Looks perfectly minimalist to me. You don't want a flashy design to distract from important content.
In today's world (particularly in consumer Internet), investors often judge the "quality" of a team based on the aesthetics of the pitch-deck -- and website. All things being equal, the deck with the better design sense wins.
But it's worth noting this deck is from 2004, and thus should be judged in the context of contemporary designs.