I think it would have been interesting if there were two types of visually distinct Borg:
We know from "Q Who?" that the Borg were meant to be a species that willingly chose to become a cybernertic hivemind and that they weren't all assimilated people.
I think they should have kept some Borg that we saw as the way they were in Q Who? and BOBW, just white skin. These would be the "pure" Borg who were always Borg from birth.
The others that look like zombies from "First Contact" onwards would represent the ones who were forcefully assimilated.
So we'd have scenes were the less gross looking Borg would be standing side by side with the mutilated zombie ones.
They were meant to look like mutilated zombies. That was the whole hive mind groupthink idea that was supposed to be symbolic. It just wasn't done very well at first because I don't think they realized how important it was going to be. I suspect they knew they were going to have multiple episodes, but they hadn't realized its true potential. If they had, they would have done a much better job on the makeup and costumes like they did with Worf and Data. Even the blue alien that cuts Worf's hair gets a better makeup job than the Borg did.