For those saying it wasn't tested - I can absolutely assure you that it was. A lot. For a long time. By a lot of people, some with a PC heritage and others with a Console heritage - and a good number of them Terraria fans/experts. A lot of what we are seeing here quite simply never happened in that testing or it wouldn't have gone out the door. Some of the other stuff falls into preferences and perception. Design vision vs status quo. The key in those will be finding that common ground that serves both sides. Just gotta get these bugs out of the path first, though. Need PW 100% focused on that for right now...but the feedback discussion won't be far behind that, I imagine.
Well, obviously something went wrong during the testing, because the new UI is simply inferior to the old one, not necessarily from a design perspective, but from an execution perspective.
Listen to the community. Not a SINGLE person who posted here praised the new UI. And it's not just an issue of preference, you can't get used to not being able to read what's on the screen.
EDIT: OK, I played some more and will try to be more specific and constructive bellow.
UI:
The main problem with the new UI is that it is hard to see anything. This is due to:
1 - the icons and fonts are too small. This may work on a pc monitor, but not on a TV. Make them bigger.
2 - the inventory / chest menu is transparent. This is a bigger problem in places where theres a lot going on, like a player base. Make it opaque.
3 - the font has a twinkling animation. Remove this effect.
4 - last but not least, when you hover over your items, a full description appears, obscuring the rest of the inventory. Remove the full description.
Controls:
1 - now you have to pause the game to zoom in and out. Bring back the zoom function by pinching the touchpad.
2 - when you use the dpad to place blocks, you now have to press the dpad each time you want to move the cursor by one block. Make it so you can simply hold the dpad to move the cursor.
3 - while using the right analog stick to aim in precision mode, it is now too slow. Increase the left analog stick sensibility.