Just four words - awful, really really awful.
Long version: Where in the past I could just open the homepage to get the most important headlines from the web world (albeit sometimes a bit late compared to other sites), or find a relevant thread covering recent developments, I now have to wade through useless images and waay too much copy.
Unfortunately, this does not even LOOK good to me - the design looks very amateurish (like from 1998 or so) and it is a SHAME for Webmasterworld, even more so if you consider the extensive "feedback days" a while ago where plenty of feedback was given and help offered.
In fact, this design is one more reason to NOT visit this site, despite its valuable content. Also, when recommending it to others one now has to add "just ignore the ugly homepage" which is not good.
Sorry for the harsh feedback, but I was really shocked to see this today, and I would like to see this reverted a.s.a.p.