Our world is so saturated with logos and brands that newly-designed logos don't even raise an eyebrow for the general public anymore. Does it really take a logo treatment such as the London 2012 Olympics logo to make people notice? Hate to say it, but it does seem a bit like "shock and awe" graphic design, doesn't it?
While I'm all for beautifully designed, timeless logos, this logo, as ugly as it is, does raise the issue of logo shelf-life. Company logos need to have the image of stability but the Olympics is a month-long event and has an expiration date. Does it need to project that image of timelessness and reassurance to its viewer/audience? Does the design fit the function?
I've tried to understand the logo, and I can't. However, I do like the idea of a logo that can keep a core message but can shift into different shapes and identities depending on the function. The TV Asahi logo is a good example of how a graphic can shift for a multi-faceted media company. Basically, I think logos can be smarter. Our society has been bombarded with dumb logos long enough and an occasional design that pushes the acceptable boundaries can be good.