Yes, they went the cheap route. Giant Dumbo plastic flares instead of wider fenders and smaller flares. If they had gone the route of the F-150 Raptor it would have turned out quite a bit better aesthetically than it has.
As a current FE owner and #1 on the list at my dealer for a Bronco Raptor, I'm wondering how this is going to play out with regard to priority given to current res holders.