Edit: Look at this screenshot/mockup: http://venturebeat.files.wordpress.com/2014/06/google-materi... - Battery and antenna certainly aren't the pieces of information we want the user to focus on, yet they really stand out simply because they are so bulky, at least compared to the other UI elements.
Edit 2: The screenshot also shows one of the things I like most about Material/L: Text elements are finally neatly aligned. Randomly aligned text elements are among my top pet peeves.