I don't think it's really fair to post photos of these new components, apart from their bikes, and consider them on their own. I agree the new Shimano cranks are pretty ugly, or should I say they're ugly pretty, but they look fine on a new bike. I know some of us take the whole "period correct" thing a bit too far (and I am one of the worst), but I think this is the point. It's not the components that are ugly, but the anachronism. Put a modern Ultegra crank on a 30-year old bike, and it will look awful.

As for period correct, I love this photograph:


But once it's installed on a bike, even the right bike, it doesn't look so hot any more:


And aside from that (not that anyone, apart from me, has actually tried one) it isn't much fun to use. Looks aren't everything.