I like it and it seems like they addressed most or all the issues of the previous gen. Better powertrain, better seating position, seems like they added a few more inches in each dimension in the cabin so a bit more room inside, fully boxed frame, disc brakes all around, likely better gearing, improved payload(?). Looks are subjective but it's like a more angular 3rd gen.
I think the thing they have over GM and Ford is OPTIONS which is new for Toyota. GM and Ford have extremely limited powertrain combos, cab sizes, bed sizes and trim levels. GM only offers a full 4 door short box config. Ford offers a Supercab 6' box and SuperCrew 5' configs. With Toyota you can get Xtracab 6' box and the Double Cab with 5' or 6' box. Hybrid option depending on trim and a manual transmission for purists. 2WD with rear lockers is a new option for Toyota as well. It's way to early to tell but more info will come out on all the cab, box and drivetrain options available for each trim. If it was me, I'm going with an iForce MAX Double Cab with 6' box in an TRD-Off Road trim or Trailhunter.
To me the most understated improvement in off-road capability is the addition of a front swaybar disconnect which is new for Toyota. I keep seeing naysayers lament (mostly GM fans) the lack of a front locker in the Pro or Trailhunter trim which GM offers on the ZR2 Bison models and I believe the Ford Ranger Raptor has one. For whatever reason people have become obsessed with options and features they may never need, use or understand just because so-and-so other truck offers it. The Tacoma has never had a front locker ever and I don't think anyone has felt it isn't capable enough but all of a sudden since a ZR2 Bison has 35's and a front locker a Tacoma isn't enough anymore. I'm guessing these people don't understand traction control systems like A-TRAC that Toyota has used for decades now. A TRD-OR, PRO, or TH with a rear locking diff, A-TRAC in the front, and front disconnecting swaybar is enough to make you forget that it doesn't have a front locker. Plus the wheel wells look good enough for a 34"-35" tire if you wanted a larger tire.
