Yes, the coin is ugly, but I have seen far worse, and not sure this qualifies as the poster child for negative eye appeal. Honestly, when I opened the thread, I was envisioning something that would make have to close my eyes.
Negative eye appeal to me is something that makes you say, "yuck," and this one fits the bill. Naturally, this is in the eye of the beholder, but if you like something nobody else does, you'll have problems in the future selling it, and a lot of beholders are saying "yuck" to this one, despite the fact that there's some colorful toning on it as well. It's not the ugliest toned Morgan by any stretch of the imagination, but the rainbow can't overcome the overall yuck factor.