Looks are a bit subjective, the VE is a better car than it's predecessor. Pontiac will probably stick a butt-ugly new front on it anyway, as well as a few assorted tacky scoops & fins.
The Commodore was not designed as a sports car, it's a family car. In Australia it has the same market niche as a Taurus or Impala. The Monaro, on which the GTO was based was never a "muscle car", it was the V8 2 door Commodore, kinda regarded in a similar light as a Taurus SHO or Impala SS. Nice car, but not really a GTO. Sticking garish scoops, an ugly front & loud exhaust didn't really help much.
At least the correct wheels are driven, but then most popular large Australian family cars from Ford & GMH are RWD.
There was a "beast" planned, a few HRT 427 Monaros made it off the racetrack & were road registered, before beancounters pulled the plug. Pity, it might have made a credible GTO.