V4 is an exceptionally well-rigged character with a few ingenious innovations I've not seen before.
As for her looks, well, it's designed very well for making new morphs, and the UV's allow for better painting of new textures. Speaking of the UV's,  I do alot of 3D painting with Deep Paint 3D, and this is the first figure I've not had to use Projection Painting with to avoid seam problems. Ths is the best UV mapping DAZ has ever come up with.
The polygon count is actually  lower than V4, at 66,024, compared to V3's count of 75,000 or so, but it's optimized - fewer polygons where there isn't a huge need for them, and more where there is.
I think it's safe to say there has been more thought put into this character than any others from DAZ prior, because it's designed largely with one purpose: to enable developers to create things more easily for use with it.
As someone else here pointed out recently, in a year, everything will be V4 this and V4 that.
"Ugly"? I wouldn't say that at all, but if you have a look at the face in a good modeling program, and see how well those polys are arranged, you'd see that the possibility for de-uglifying her are numerous. Might be a better choice to try that, as opposed to complaining and waiting for someone to make something you like better.....