Pepsi's breathtaking makeover

Gawker.com is reporting that Pepsi has chosen a new logo. Another win for the branding industry, which the cynics at Gawker say "exists for the sole purpose of allowing graphic design majors to soak clueless corporate behemoths out of millions of dollars for what amounts to a few tweaks of a computer design template."

Why don't you decide if Pepsi is getting its money's worth? Above is the old (currrent) logo, below is the alleged new logo.

Adopting a new logo can cost an international brand hundreds of millions, as designers make over the company stationery, merchandise, trucks, billboards, ads, labels and so on. Was it worth it? Or should management have known better?

And is it just me, or does that bulging new swirl seem somehow... familiar?