Well, if I thought white was bad then at least now I know grey is as bad, maybe worse!
It looks like undercoat, and therefore unfinished, and the grey makes the train look old, boring and dull. You know when you're out driving on a dull, grey, overcast day or when it starts to rain? That's what this train reminds me of.
If they were going for a simple base paint for the benefit of the next TOC, why not go for black or, shock horror, just stick with white? Will this be any easier to keep clean?
Also, perhaps a thicker stripe would have made something more of the train even if it required a bit more vinyl. In fact, I'd have tried having the pink all the way from the stripe down to the base of the train and then had white East Coast writing/url. I think the grey might have worked better if it was only the top half.