That crap looks like Safari on OSX. If I wanted a Mac, I'd just buy a Mac.
But yes, I do realize it's actually a smart move for Microsoft, considering all the people that just want their computer to look like something that the spawn of copulation between the Tin Man and a Teletubbie would vomit up. Like the rest of the fuglyness in XP (and soon to come Vista), it can likely (read:
hopefully) can be disabled, though, so I guess the improvements like tabbed browsing and attempts to blocking phishing are still good news.
I thought the beta became publicly available recently ... or was that just to developers? Shouldn't there be some real screenshots somewhere? (P.S. I'm way too lazy to search for them myself.)