This question's answer would require something more lecture length that dives into fundamentals of design with an equal amount of time spent on automotive design. No one has the time or care for something like that, so I'll try to give a high level answer.

Generally speaking, cars are not about simple designs/shapes. They, especially to enthusiasts, are viewed as something closer to art where care is taken to craft shapes and forms for both function and feel. This is amplified dramatically for Porsche, Ferrari, Lamborghini, etc..

Ive was clearly doing this design work for the Apple EV that never shipped. It followed Apple's historic design aesthetic (driven largely by him) of simplifying things as much as possible--using circles and squircles everywhere, removing as many unnecessary geometry as possible. That's fine for an Apple EV because that's their design aesthetic. That is, demonstrably, not Ferrari's design aesthetic. It's a jarring departure from decades of automotive design and, in my professional opinion, an exercise in hubris.

As we remember that design is largely subjective and that this is all my opinion, I will say that almost everything in the vehicle is overly simplified:

* Steering wheel: an attempt at modern retro, but they added two blobs (to keep the steering wheel simple) to house the dials and buttons instead of incorporating it in a sculpted, thoughtful way. Instead of putting the turn signals in those blobs (or elsewhere), they interrupted the simple steering wheel with a couple circles to act as the turn signals.

* Digital instrument cluster: it's an iPad that connects to the base of the steering wheel. Wasted space in the top corners. Convex glass is a really nice touch however. Gauges are strange to me (gas gauge for an EV, left dial is confusing at first glance, G-force gauge unnecessarily busy), but that can always be changed later so not worth waxing on about.

* The key: a small iPhone 4. It's not terrible, but it's rather uninspired and boring. Ferraris aren't supposed to be boring.

* Dashboard interface: another iPad, but with a Mac Pro handle on it. Might be very nice for moving it, but how often are you going to do that? Does it stick out far enough to act as a wrist-rest as mentioned in their video? The mechanical switches are a nice touch if the display/UI keeps up. The clock/compass/stopwatch in the top right is neat, but almost antithetical to the rest of the design--it's added complexity for the sake of complexity. I still like it though.

* Vents: these make sense to be simplified. I've never loved the number of flaps in most vehicles, but if you have kids you might have issues with toys/food getting lost inside if there's no mesh behind it.

* Seats are nice, but if you removed the Ferrari emblem would you know it's a Ferrari? Is there enough bolstering for spirited driving?

The shapes, iconography, etc. are all carried over from Apple devices. Cars, even in EV form, are not iPads and iPhones. Cars, particularly those like Ferraris, are supposed to be designed, sculpted, given character and flare in order to evoke emotion.

Rivian and Porsche, in my opinion, have designed beautiful EVs (inside and out). They have a design aesthetic that's unique to them and in the case of Porsche stays true to the brand. The Ferrari Luce looks like Ferrari hired Ive to take whatever work he did for Apple and copy paste it over to them. If this was announced as an Ive + Kia/Hyundai/Honda/Lexus/etc. collaboration would it look any more or less out of place? No, because it's been simplified to the point that it doesn't even look designed any more. It almost feels "default" in a way.

This is all just my opinion as someone that's been doing product engineering and industrial design for a long time and happens to love cars--take it with a grain of salt.

+1 to everything you say here, but unfortunately I doubt this will sway anyone who doesn't have similar feelings upon just looking at the thing with their own two eyes.