I'm not impressed yet, and I know that better web experiences can be delivered.
However, now that I see this webplayer and recognize a few similarities with the desktop player, I can see why many of the horrifically terrible changes to the native player happened recently.
They were getting rid of native rendering and replacing it with rendering a webpage. No wonder people were so pissed and no wonder so much functionality was dropped.
EDIT: Okay, I'm going to say this. Webapps: USE MY RIGHT CLICK. You are NOT A WEBPAGE, so don't use a webpage right click!
Right click a song in native app: Play, Queue, Add To->Lists, Radio, Copy 3 Kinds of Links, Share, Delete from Playlist.
Right click on a song in web app: Back, Forward, Reload (breaks playback lol...), Save, Print, View Page Source, Reload Frame...
I love my right click menus and not having them in a webapp is very frustrating. Oh wait, this is supposed to also work for touch so I will never get a real alt-menu again, will I?
I can confirm this, and have heard that this was politically driven by their web-focused engineering management and teams.
Netflix did the same thing, for the same reasons. People built up web fiefdoms and had the political clout to put their job security ahead of user experience.