The result of the external PSU is that it is more quiet than the PS4. I don't agree with the decision, but I can see why they made it.
I'm surprised you'd call it "ugly". It's pretty neutral, in my opinion.
Compared to Wii U and PS4? Well, maybe not ugly but... feature less maybe? (It's so huuuuuuuuge. I couldn't care less really but I can't really hide it in my setup. First World problems and all.)