There’s even a quote from Mr. Ive out there implying that he doesn’t have much warm feelings for it.
BUT, one must remember who that interface was made for. It was made for the grandmothers who never used a computer in their entire life, yet has just received an iPad.
I gave my 65 year old mother-in law an iPad, and she had no problem understanding that the note taking app was for taking notes. If it had been a blank white page, even with a blinking cursor, and only blue menu bars, I don’t think she would have had any idea what to do with it.
It has its place, but I agree that it is limiting for advanced users or perhaps even for UI innovation.