I've just concluded a 2 month experiment using iTunes Match, and it is the perfect example of over-engineering. It's the classic issue where engineer reach perfection, but stock holders and managers insist on them continuing to 'evolve' the product. Unfortunately, the only way from perfection is down, and that's where iTunes is now heading.
When you pay for iTunes Match you now relinquish control of your music collection. I say 'now' because, until the latest iOS release, it wasn't the case. You used to be able to happily download and delete single tunes to/from the cloud. Now you can only download albums or playlists (that you can't manage), and you can't delete anything. Senseless over-engineering.
Same with iTunes' new look. Although that improved considerably once I figured out how to switch the sidebar back on.
Honestly, leave it alone, Apple. Are you getting so bored with world domination that all you can think of now is how to cock up the secret sauce? Or has Steve Jobs' departure really impacted you that profoundly? Was he really the ultimate quality control at Apple, that prevented them from creating duds before?
Anyway, back to disabling iTunes Match, scrubbing down the iPhone and going back to laptop syncing. You may get this cloud thing yet, Apple. Or it may be your undoing, just as the Internet was Microsoft's.