Wow. I read Marissa's writeup and immediately cringed. She was personally involved on the design? Wow. No offense to her, she's accomplished amazing things, but I agree with Glenn on this one, and part of the reason I cringe is because she's not only not a designer, she's the boss. Why hire people to design things if you're going to micromanage the process?
I looked at the specs of the new logo...not seeing it. To me it looks like they picked a typeface, slapped some type in there, then moved characters around a bit and modified a bit in Illustrator to be slightly evocative of the old logo. To me, well, okay, I admit it, I come from small-town hell and won't try to claim to be some great or even mediocre designer...but unlike Meyer, I was one. Anyway. I would try to design things to be printed, would try to do things that would reproduce well on a business card, on stationary, a print ad, billboards, and yes, in the upper corner of the screen in a website layout...only to have the soul-crushing thing happen where the business owner's nephew would go in to Word and put the company's name in Helvetica in the most garish WordArt configuration possible and would want to use that in a one-color ad in a space that wouldn't accomodate the, ah, logo. And that's what I think of when I see this. Or the terrible designs you'll see from people who bid $10 on a logo design job on 99 Designs or Freelancer. It looks sloppy, it gets lost on the page, it doesn't reflect any of the work they allegedly put in to the thing.