I agree, but, have you looked at the cars today? I can honestly not tell the difference in silhouette between a mustang and an acura these days. You can stick as much chrome on the outside of the thing you want in different patterns, but they are the same car.
It's not that I don't know that the Leica isn't a super great camera, but the fact that they tried to make something to a higher design goal than, "it should just work" carries some weight. Just working is very important, but you can go past it. There were tons of mp3 players that just worked before the ipod. Arguably my rio mp3 player worked and sounded better than the ipod. however, the ipod was something that resonated with people. When you put soul into something your soul responds. I hate saying metaphysical junk like that, but anyone who has experienced a truly well designed object or seen a to a perfectly executed musical performance knows this feeling.
I mean, design these days is boring and unenriching. Go to amazon and search for water filtering pitchers. Do any of those inspire you? Are any of them beautiful? Are any of them even nice to use? If you read the reviews they are full of, "it filters water alright, but": the lid is awkward, the handle cracks off after a few months, the old version had more thought in it, the edges of the plastic are sharp, etc.
Something can fully and completely fulfill it's primary purpose and still be poorly designed. Still be a joyless disposable object.