No, it doesn't look like the concept. Otherwise (as usual) you are entirely off the mark.
This is the first "green" car that doesn't look entirely like crap.
Watered down?
No, I don't think so.
I would call this car actualized.
The concept was a "dream car" in the truest sense. While I was disappointed to learn that such a great-looking shape would not make production, I've come to understand the reason for it. I also hold out some hope that another variant might toss the aerodynamic concerns to the curb and adopt the aggressive styling of the Volt concept down the road. For this car, the first of its kind, the decision to maximize the aero makes sense.
As much as I loved the in-your-face styling of the concept, this car now hits the sweet spot of current styling with precision. To me it looks like a premium European compact, and gives a sense of quality through its design alone. It says "we are good enough to deliver this technology without building a clown car" - something Toyota only wishes it could do. In fact, the redesign looks great on its own merits. It has the look that appeals to the most 'green aware" demographic out there, the younger car buyers. I see this design having massive appeal to those who love cars like the Mini and GTI just based on its styling alone. That is just the sort of buyer GM needs to bring into the fold, and this car will do that. There will be huge enthusiasm for the Volt among buyers that represent the future of the car business, and that is how GM has a shot to right the ship. It will have to be followed by other hits of the same caliber of course, but right now it is a huge leap in the right direction.
Make no mistake, the Volt changes everything.