I actually like it.
The only thing I don't like about it is the brahma bulls on the side, but like The Lariat alluded to, I doubt that part of the belt is permanent. Either the logo of the champion will replace the side plates each time a new champion wins it, or it might just have something generic like globes or something on the side.
It's duller than past championships, true, but to me it looks like a more legit championship belt than the spinner belt for sure. The spinner belt played into a fad, whereas this looks like something a real champion would wear, kind of like what the Rock was saying in his speech. I like the fact that the belt says "champion" and not "champ." I like how big the logo in the middle is. Actually I like how big the belt is in general.
It seems to be pretty unpopular to say it at the moment on here, but I don't care, I like it. I don't think it's as good as the winged eagle championship (my favorite ever), or the Attitude Era one (not the smoking skull belt, but the classic belt when Stone Cold first won it and that the Rock had), but it's certainly not horrible and is a big improvement of the spinner belt. It doesn't like a belt for some cheesy gimmick, like the spinner was for Cena's "wannabe rapper" gimmick. This looks like a legit belt that a legit champion would wear.
It's good IMO.