I agree with just about every post I have read. I have Pages on my MBP and I use it for business. Mail merge between a Numbers spreadsheet and Pages document to create mailing lists, form letters, etc., is something I used on a day to day basis. With all the features that have been stripped from Pages 5.0 it is useless to me.
I have no idea if anyone in Cuppertino reads these types of things or not, but if you do here's my 2 cents worth.
First, I love my Mac.
In my world the functionality of a program is the key. I need it work and serve my purpose in a business environment so I can get things done. Cross functionality between OSX and iOS products, while nice, is not as important to me as being able to accomplish my work on my MBP. Apple had a rather robust iWork '09 suite. It met my needs as a business person. What I liked most about iWork is that it was intuitive. It worked like Apple software should work.
It appears the the Apple design team saw that there was not complete cross functionality across all the OSX and iOS platforms, made this THE problem to address, and then went about trying to solve that problem. The challenge appears to have been to make Pages, for example, look and behave exactly the same across all the platforms. I understand this is way to much simplification, but the basic question appears to have been to "beef up" the iOS version or "dumb down" the OSX version. To the end user, like myself, it appears that the OSX version of the software was "dumbed down" so it would look and act exactly like it's iOS counterpart. Personally, I think that was a bad decision.
I don't need to be able to create a perfect Pages document on my iPhone or even on my iPad. I expect limitations because of memory. However, when I get to my MBP I need for the software to be feature rich. If it does not function the way I need it does me no good as a business person. If I can't use the iWork suite in my business then I am left with no alternative but to install (and I shudder to even think this thought) Office for Mac. Speaking honestly, if I am going to have to bend and conform to doing things the way Office (even Office for Mac) makes me do them then what is the point in paying the premium for Apple hardware?
Like I said, I love my MBP. I just need it, and my software, to work. From what I've seen so far this "upgrade" to 5.0 doesn't; at least not for me.