As it should. The current ending is a fucking abomination. It's one of the worst endings I've seen to anything ever. Thankfully ME3 The Extended Cut will be free.
Has something like this ever happened before? An ending so awful that they agree to make a new one free? And I think most of us are suspicious that bean counters at EA contributed to screwing things up. It would be interesting to hear some of the conversations within Bioware/ EA considering how things turned out. They also "won" that worst company in the world poll, although I personally always have companies like Monsanto and Goldman Sachs rated as being much worse and infinitely more evil.
"Clarity" and "deeper insights"? That doesn't really sound like they're admitting that it was bad ending, but rather implying that people who didn't like it didn't really understand it.
Out of a poll of 40,000 people on Bioware's own forums, 98% said they hated the ending. People understood it. They just thought it sucked ass.
I'd compare it to the end of The Matrix Revolutions. It builds and builds to what you think will be an epic finale, and then just kind of craps its pants at the finish line. The game doesn't even have a final boss fight with Harbinger, the main villain of the series. That's how lazy they got. You meet a magical star child and push a button.
I loved Mulholland Drive. I did not like this. I think they thought they could pull off some sort of 2001: A Space Odyssey star child conclusion, and their attempt was terrible.