Steve Kovach/Business Insider
The bulging camera lens means your iPhone won't sit flat. When you view the phone in profile, the lens disrupts the otherwise clean and straight lines of the iPhone 6.
Apple seems to be aware of the design blight as well, with the company using "clever lighting and placement" to hide the bump, according to blogger Ben Brooks (via Cult of Mac).
It's important to note that Apple doesn't hide the camera lens in every product shot. Brooks points out that the bulge is noticeable in quite a few product images, but Apple hides it in any profile views of the phone.
In other words with clever lighting and placement Apple hides that bump in profile view where it clearly would ruin the clean line and sleek looks. That doesn't make the iPhone 6 bad, but it leaves a bad taste in my mouth. If you are embarrassed about the bump then don't have it, but if you have a bump I think you need to own the bump.
You can take a look at some of the product images below.
Apple
So why did Apple introduce the new design?
The iPhone 6 is the biggest iPhone yet, and Apple likely wanted to keep the larger device lightweight and easy to hold; shaving off some of the device's thickness is one way to accomplish that. But the iPhone is also known for its great iSight cameras, and Apple probably wanted to make sure it improved the camera, a move that likely required a bigger lens.
It was a design tradeoff, but with over 4 million iPhone 6s preordered in the first 24 hours, Apple probably isn't too worried.