I don't really know.
But one of my theories, is that they wanted to reverse the roles of the 156 and the GTV.
the 156, while inferior to the original, is tolerable.
And making the sporty one, turn into the sophisticated looking one, doesn't usually end well...
GEH-Gh-GEHGHGH! AAH! ITS THERE! RUN FOR THE HILLS!

To be honest, the only 2003 facelift i like, is the 166 and to be honest, the GTV facelift is more tolerable on the Spider.