Looks like they are getting a good response and more mindshare then they should for a logo. Perhaps this will be the new "new coke/old coke" case study of the future but "now with more crowdsourcing (tm)".
I was thinking the same thing. GAP put out a crappy new logo on purpose (They aren't using it anywhere) knowing it would create buzz. Roll that buzz into a crowdsource contest. And in the end stick with your orig logo.