It has an engine called a Wankel, how on earth is that even remotely cool? Plus it's a Mazda, which isn't exactly cool either. Oh and then there are the fanboys of the car! Like any high performance Japanese car you get the people who some how think it's a scaled down version of God. It's not as bad as anything Skyline GT-R related but it's up there.
Then there is the really dark side, it's associated with The Fast & The Furious, one of the most uncool, hated on car movies ever.
However, it does look cool and it has a design of far more expensive cars, especially when you ditch the pop-up headlights for those racecar inspired ones. You can also put a LSx engine in it and make it better it so many ways in my opinion, and any car that can take an engine swap decently well is cool too.
I think everything just cancels each other other in the end and you are left with a car that's pretty meh. I can't hate it because it has redeeming qualities but it has some pretty awful qualities too...come on! Wankel!!! Really? Say you have a Wankel to someone that knows nothing about cars and they'll probably call you a perv.