You're not seriously saying that it looks like an iPhone 4/S, do you?
If that's the case, then I guess the Galaxy Nexus looks like an iPhone too, because the front is black and the rest got some silver/gray color. And it's a rectangle.
Clearly, it must be an iPhone clone.
A black rectangle with rounded edges, a full glass front, a metal strip running around the side, and rounded metal buttons on the side. The back is different, but I think it's a lot closer to the iPhone than most designs on the market. And it's definitely going for the same high class look with very similar materials. The Galaxy Nexus has a lot more curves and bumps and dents (but you're aware of that)
But it's still a fan render, isn't it? So I guess it represents the wishes of WP users looking for something in the vein of an iPhone more than the intentions of MS. I'll wait and see.
Note: I don't think it's ugly. I just don't see anything exciting about it. Looks like a nice business phone.