I have really wanted a PPQ since I started shooting a few years ago. I held off because we had a high-cap magazine ban in NY and the thought of only having 10 round mags for it was undesirable.
Now that they are (potentially) dropping the superior paddle mag release, and making new magazines incompatible as eviltravis described above, the whole thing has become a big PITA. I held a used but unfired PPQ about a month ago and didn't buy it, and now I am kind of glad.
Walther needs to keep the PPQ and M2 in production. If they don't, I will probably just get a P30 in LEM instead. Walther is shooting themselves in the foot on this; most Walther buyers love the paddle release. And for the new American market they are trying to get into, which hates the paddle because they haven't given it a chance, they have the PPX for that.
I agree the PPX is ugly and "moderately awful", but at the price point it beats the snot out of a Ruger SR9 or S&W SD9 VE. Me, I'd rather spend another $100 and have a dozen more options. But a lot of people go in with tiny budgets wanting just one gun to shoot once, put in the nightstand and let it ward off evil. For those people, I think the PPX will be highly successful.