Sadly Apple appears to want to treat us, the user, the customer, like idiots. Simpletons that need to be given simple choices and not allowed to veer off Apple's carefully manicured path to media management nirvana.
I began to despair when Apple ill-advisedly removed the ability to create multiple windows from the base iTunes instance, and now further strait jacket measures are being introduced in the name of hygene and simplification.
When will Apple learn that there are many types of user - the basic - to whom you give it all as uncomplicated, vanilla and simple as possible - and then there are progressively higher levels of power users who want to do things in a certain way.
I would suspect, I would hope, that Apple as a cusotmer orientated business would like to keep its cusotmers happy - so stop treating us all the same and stop culling useful functionality just because your 'style' and UI fashionistas feel that is how Itunes should look and function. Yes the overall look and feel can follow a theme - but stop 'streamlining' for the sake of it without considering the impact because if you keep this up you will leave the vast majority of customers with a product they don't want to use.
I am hovering now at that point myself - having invested a lot of time in playlist and album art importing - Apple may hold me a bit longer - but if the company keep making silly decisions around cripling what was originally a pretty good product - then all bets are off.
If you want to please your discerning users, Apple, reintroduce selectable columns across all screens, allow multiple windows and then simly have a series of modes where the user can choose to lock down what they see - its not rocket science, many other solutions (even your bog standard AV) do it?
We know Apple purports to be the style doyens when it comes to UI design - but there comes a point where iTunes actually ceases to be a proper music / media manager and becomes an emaciated marketing platform for a bunch of half-baked Apple product I don't want and will never use - Apple can start down the righteous path again by making it optional to remove that space consuming and largely mindless 'heart' column