The new and "readable" syntax looks truly ugly compared to the S-expression counterparts. Why is it that some people dread parentheses so badly and other people just never mind and choose to spend the time working with them?

The main reason I consider parentheses and S-expressions superior to other syntax is that it allows for flexible navigation in the source code. I can move forward and backward, upward and inward in the tree, unit-by-unit and the unit can be a literal or a compound S-expression or anything and it just works the same. (At least in Emacs.)