I preface this all with:
After D3, I don’t trust anything Blizzard says until I see it go live.
So, going virtually line-by-line, here are the 
s and s of the blog post, in my view:
Actually more frequent communication. One post doesn’t make a pattern, but maybe we’ll get there.
Blizzard is working on adding “more depth and complexity” to base items, “including Rares.” This tells me they heard clearly that items looked bland and homogeneous (with uniform Attack and Defense stats even where they made little sense - e.g. Attack on armor - and too few meaningful affixes).
One part of the blog that gives me pause here is “freedom to choose how to customize items.” From what we’ve seen of the gameplay, I have no idea what this is referring to, as we saw no item customization elements to begin with.
Blizzard is working on adding more item affix variety.
“We’ll go into way more depth regarding itemization in a separate post” …
“soon” … That’s a from me based on Blizzard history
Affirming and clarifying that the demo was unfortunately misleading and, yes, “elective mode” skills exist as the default
Blizzard admits they should have been clearer about the role of Ancient items in D4 when announcing them.
This blog post did nothing to clarify what their original vision for that role was.
Blizzard is rethinking Ancient items in D4.
Blizzard is still planning to implement Ancient items in D4, just differently. We’ll find out what differently means in the item blog update, which you’ll recall is …
“soon”
Blizzard is seeking feedback on infinite vs. finite leveling. We can give input.
The post then immediately cuts in with a defense of infinite leveling. If you want feedback, just ask for it. Don’t ask for it and then say that you don’t believe in the merit of the concerns of one of the proponents of one of the choices.
The example cites “1,000,000 times more power,” leading me to believe the numerical absurdity of D3 damage values is viewed as OK by the D4 team.
Diminishing returns are mentioned as a possibility, which is probably the best option IF Blizzard goes the infinite route. However, non-infinite leveling also uses diminishing returns (with increasing XP to level), such as D2 where reaching 99 is very time-consuming and 80+ is already considered a very good build. (Cue 
from the anti-D2 forumites, I know.)
Blizzard then makes another “spirited defense” of infinite leveling by suggesting it is the only way for players to “go deeper into the game” and that it would be necessary to “[achieve] those really difficult endgame goals.” Seriously, ask for our feedback or put your hand on the scales. Not both.
“in Diablo IV, power doesn’t come mostly from items.” I want to be clear that I really do appreciate this, so I’m giving this another . That said…
“Legendary powers … won’t invalidate all other Affixes. … two to three normal Affixes are currently equivalent in power.” Look, I’m not here to teach mathematics, but if we assume the bigger amount of power is better, 1 does indeed invalidate 1/2 or 1/3. If there’s something missing here, the onus to explain is with Blizzard.
Dungeon Affixes. Being able to pick dungeons to run based on expected monster mixes and special dungeon affixes sounds great. This is a kind of choice I appreciate.
“players will know some information about [dungeons] including … layouts to expect.” We already know the overworld is pretty much fixed - likely with nodes that are swapped around like D3 - i.e. significantly lacking in randomness. Now they’re saying a given dungeon will also follow a pretty much standardized layout? “Gag me with a spoon, Mrs. Henderson.” (“Gag us all with a spoon.”)
: 11
: 9
Outlook: “None of this makes any sense to me. What am I missing, Uncle? What am I supposed to see?” There is some good here, but the post does nothing to clarify the role of Ancient items, asks for feedback between two options only to cast one option as inferior, brings up bloated numbers we need to ditch with D4, and between what we’ve seen and what’s stated here, it sounds like there will be very little map randomization. I want to believe Blizzard can “right the ship,” but I don’t understand with the massive amount of feedback - that seemed very clear on many of these points even - how these are still stumbling blocks.