I hear that constantly, but it's my favorite remote. I did, however, buy a sub 10 dollar silicone case for it, with a strap. It's easy to grip, comfortable, doesn't slide, and it is always obvious which way is up/forward both visually and tactilely. I think the shortcomings are well addressed with such a simple fix. But, I also use a case on my phone to fix it's same shortcomings, so perhaps that's why it doesn't feel like such a leap to me.

On the other hand, it might just be that I can get used to anything. (Err, I also think the Apple TV UI is fine, too. But, perhaps I lack the imagination to envision a better UI.)