I hate to get involved in a debate over what sucks or not, but here's my 2 cents anyway:
Yes, OS X is a big break like Windows 95 was, and will probably face the same sorts of problems. It takes time to track down bugs, etc. after you rewrite an entire operating system. Still, I think the progress made in OS X is great, and am expecting a MUCH more polished OS by the time 1.0 is released. Using OS X for the last 5 months, I've seen a far more stable OS than the Classic MacOS ever was.
Yes, Apple did not write most of OS X. Almost the entire foundation was culled from Next, BSD, etc. So what? If it makes a better OS, then its a good idea. Plus, if Macs didn't support a whole lot of software before, now they do. In one environment, I can run classic MacOS, OS X, UNIX, and Java apps.
As for the "photoshop makeover", I don't see what's wrong with having a nice looking GUI frontend to your nice new OS. If you really don't like the GUI, log in as '>console' and enjoy the beautiful command line.
And yeh, Mac hardware is slow and expensive. I don't care what Apple ports OS X to, as long as it runs faster and doesn't cost me twice what I'd pay for a PC. Those Athlon's are getting faster every day, and there's only so many G4's Apple can cram in a box. No amount of marketing can make up for chips running at half the clock speed.