Well I'm sure how I feel about it... I absolutely HATE it!
I detest their pinterest style, the page takes forever to load, and it seems they've chosen to feature their own styles and favorites, rather than give all items in a category a fair chance... and of course the categories have changed pretty drastically too. I feel sorry for the buyers... and for us as sellers, because I have no doubt this will impact our sales.
I was really hoping that the outcry from so many of us against the "test" of this format would be enough to make them realize we don't like it, nor do we want it for our shops or for ourselves as buyers. It's likely that I'll revert to buying from my outside suppliers, rather than trying to endure browsing in this format and trying to find what I want here on etsy anymore.