It’s overall powers are very fittingly Luffy. In many ways it’s a real throwback to the good old East Blue days when he was doing stupid things with his fruit and it was wildly frustrating the villains. I like that the Gorosei are not frightened of it due to it’s natural strength, but due to it’s ridiculousness.
And speaking of throwbacks, I’m glad Luffy’s back to normal size. I was never a big fan of Bounceman’s design (and I thought Snakeman was too trying to be cool Shonen and not fitting to Luffy).
The hair and the eyes will take a bit of getting used to. I’ve seen some fanarts of it that I like, but in black and white it’s a bit jarring just because of how different it is too what I’m used to.
I hope Luffy isn’t always laughing when he uses it. The adrenaline right now making him temporarily giddy is fine, but it’ll be very offputting if Luffy is laughing all the time when he uses it, no matter how serious the situation. I’m confident the laughing will be temporary though.
And right now I’m just wishing it was still the Gomu Gomu no Mi. I’m not convinced that it being a different fruit is necessary. I think it would have been a brilliant G5 just as it was without this twist.