Gap changes logo...and the verdict is in: I HATE IT!

It seems that the only thing going for Gap these days was their brand identity, and since sales were slumping, the last desperate cry for help is to change their logo completely. This could be a smart move in some cases. Look at Pez, once branded as mints for adults and now redirected as candy for kids, became increasingly popular and successful. The problem is, why re-brand your company with something that looks like it was made using Microsoft Word or came from a standard clip art gallery? I'm not sure what angle they are trying here, but I'm pretty sure that wouldn't change my mind about this new logo.
What are your thoughts? Love it or hate it?