What Happened to iTunes?

What is that squarish thing sitting on my desktop?
Mmmm… that’s so Win like…

Update: despite the “square new look”, it seems to produce better audio output.
A better defined sound (listening to CD ripped AAC files 192 or 320 kbps) and a wider stage.
Maybe it’s taking advantages of Tiger’s new core audio, or maybe I should stop having hallucinations…

Related: The iTunes 5 Announcement From the Perspective of an Anthropomorphized Brushed Metal User Interface Theme