I just think it looks too clean and new and featureless--remember, the only reason the TARDIS looks like a police box is because its chameleon circuit froze up on a visit to the UK sometime before "An Unearthly Child." As such, I'd expect it to look more weathered and grimy, both to better resemble a real box and because of all the hundreds of years of hard living it's had since the circuit went kaput.
My view is that there's nothing physically wrong with the chameleon circuit and that it turns the TARDIS into a police box of some kind every d@mn time, or at least occasionally.
In
Logopolis, when demonstrating the circuit to Adric using the TARDIS screen, the Doctor tries out at least one new shape - that of a pyramid, I think; but the shape on the screen just reverts to a police box. In
Attack Of The Cybermen, the Doctor actually gets the TARDIS to adopt a few new shapes - but it then reverts to a police box at the end of the story! So it would appear to be a software problem or that the TARDIS insists on being a police box for its own reasons. This would also explain the variations in the police box design.