I think some of the features are a step in the right direction, but it feels more like a beta to me. Then again, Steam hasn't ever been a rock-solid, polished application, regularly failing to automatically sign in because of 'network problems' even though I know the network is fine (I just try again and it works, sometimes).
In concept, I like the idea of being able to select 'not interested' on games, that recommended titles are displayed in a queue that you can check from time to time, and that personalized tags show up on the main page. The tags don't work very well right now (way too broad since anyone just tags them), but maybe that will improve somehow. I also like that images popup in an embedded window instead of external browser by default.
However... an infinitely scrollable main window is just asking for problems... and I feel like they should have focused on making it more navigable as a PC/TV hybrid interface. The blue color seems completely unnecessary, and I haven't yet found any way to turn off that blue 'glow' to get it back to the darker background color (they are forcing the new color scheme on users).