Its still a horrible User Experience.
Basically you have the Home Screen:
Its only one screen, no left and right screens. Just a swipe up and down.

There's the Time/Date/Weather thingy on top. And a list of stacked Apps that you normally use or the last ones you've opened.
In the middle is the name of the App written while on the right side a corresponding icon is shown. Long tapping on the icon/label expands the window and pushes the other windows (open/close) up and down. Swiping the window to the right, will put the window into the icon (collapse) and pull all the other windows towards it.

Even worse is the internal gestures in these "mini-windows". Swiping up/down from the opened mini-window will collapse it and make the already collapsed stacks on the top/bottom expand. Its doesn't scroll as you'd hope. To scroll you need to swipe up/down from the actual collapsed stack. Logic failed.

These mini-windows can be enlarged by a pinch gesture. And tapping on them will either cause an activity (ie Call contact) or it will leave the Homescreen-mini-window-clusterf-uck and dive into the fullscreen App.

To put a new "widget" / "mini-window"... you can do it in limited areas. Like on the contacts page. Grab the contact you want by highlighting/long-pressing it. Then pinch it so it expands into a mini-window and as the background fades away from the App and into the Homescreen. Choose higher or lower on where you want to stack the mini-window and just let go of pinching to place. If you place it wrong, you'll have to delete it and start from square one. Idiotic.

And there's an App Dock on the bottom. Swiping up from the dock gets you to the App Drawer. Here is the list of icons of everything on your phone. But there's no widgets.

And since there's no widgets on the Homescreen, there are no widgets around the phone. The Homescreen is meant to "behave" like widgets. But when these widgets aren't needed, they just get in the way.

Oh, you can kiss good bye to wallpapers, its all covered up on the Homescreen.

We all knew Samsung/Korea sucks when it comes to design. Its just not upto par with Japanese design or American design. We knew TouchWizz is a bad experience (save for a few things). But this is just trying way too hard and taking a leap backwards. Its like they saw LG and HTC (who also suck) trying to invent new things, and just decided to one-up them.

I mean, can you imagine them trying to shoehorn this experience on a tablet?
How about a handset with a small 4.0 inch screen?

I think I made myself pretty clear.
https://www.youtube.com/watch?v=HZY0W1HLsoo