I don't hate it but for $30k i would've expected something a little less bland. To me it seems they were as careful as possible to be politically correct. Absolutely no life to it.
They did exactly what the NCAA and UND wanted: They created a bland, PC logo devoid of thought or feeling with absolutely zero connection to the past, highly touted, Native American created logo. Plus, it's so simple, reproducing it will cost a fraction of what the other logo cost. While you'll pay the same for gear, the university will get to reap the profits.
The greatest irony in all of this is that UND has to continue to sell Fighting Sioux gear on a regular basis in order to keep the trademark. My aunt works at UND and says word spreads like wildfire whenever new Sioux gear comes out. The stuff sells faster than they can put it on the rack.