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It needs to look like this:
Any doubts as to whether they're the same platform?
No, it's not terribly attractive, but any time someone tries to make a coupe into a 4-door (or vice-versa), you're bound to get ugly lines & proportions on one half of the car. In this case, it's the rear half. It does indeed resemble a station wagon more than anything. The front end is okay, but I could care less about it looking "Porsche". The 924 et. al. hardly looked very "Porsche" back when they were new, and they're fine cars to me. Just because the 2006 M6 doesn't look very "E30" doesn't mean it's a bad car (the excessive weight takes care of that).
Why do some of these companies feel the need for such cars anyway? In a downturning economy, wouldn't simpler, more streamlined model lineups make more sense? Wouldn't the excess R&D put in large sedan-thingies have been better if spent on economies of scale, engineering, or fuel economy? Then again, the high-end market shows no real signs of slowing down.... I really don't look forward to hearing how quickly the Rapide sells out, either.