According to our new friend Terry Henfleet, this apparantly looks like something called a "simon says"?
I think it's horrible. Like all the new logos T_T
I.e. forum guys knew it last week already :)
I like the new logo, its Fresh and was expected since the change of the Chromium logo.
Can you link old and new logo in the same post to compare?
Here's the old logo. It was more complicated. Perhaps Google figured a simplified logo looks easier to recognize and less technical, more lightweight:
Old and new one may have some think of a surveillance camera robot or something though? :)