It's ironic that iTunes has an option (in the View menu) to hide the "Status" bar, which is the tiny bar at the very bottom of the Window. That status bar only takes up the amount of space needed to display about 1 song, but the designers were thoughtful enough for the users and their monitor space that they provided a way to disable it anyway. This monstrous new header in iTunes 12.2 takes up 120 pixels, so that is enough room for about 5-6 songs and it is about 11% of the heght of my monitor! I would much rather see 5-6 more songs in the list than see this giant header that is filled with redundant information.
From an aesthetic point of view, this header fails. It seems to randomly pick some album art and colors to display for you. Well, I don't want Apple deciding what colors to use to represent my playlist. I want the music to speak for itself and I don't want my mood to be affected by some random color gradients that Apple wants to show me. Also, what if I'm at work or in some sort of professional setting, and I don't want people to see the album art in that header because it's not appropriate?
In conclusion, this header makes iTunes objectively less usable, and less aesthetically pleasing. Apple has made a mistake with this one. They should really add an option to disable the header in the next version; it should be in the View menu and it could be called something like "Hide Playlist Header".
Instead of adding this header, they should simply display the playlist name in the status bar at the bottom. The playlist name is not always visible because the left-hand pane might be scrolled to some other position. It is nice to have the playlist name on the screen, but you don't need to put it in such a wasteful header like this.
I'm using Windows 8.1 64-bit.