I'll have to agree. I'm completely baffled by the comments saying it's good. It looks absolutely shocking.
Codemasters have proven that they aren't going to deliver what a lot of us want, which is a Formula 1 game leaning heavily towards a true simulation. For me, it's a step back from the Studio Liverpool days. I would play full championship seasons, with the races at 100% race distance on F1 Championship Edition, although I'm not denying that game had flaws.
I loved CM's DiRT 2 though, because I know I'm getting a great arcade rally game when I play it. I'm not expecting a simulation. However I want a sim with F1 games, and that's why I didn't like F1 2010, and won't be getting this one.