I've noticed that most current E46 owners (myself included) are more drawn to the E92. Most current E90 owners prefer, well, the E90. I do hope that's not a case of subconsciously justifying one's purchase.
They're fairly similar designs, overall. The belt line crease is similar, the side profile, the angular lines. Saying that the E92 is "ugly" is just as absurd as claiming that the E92 makes the E90 look "dated." You really can't insult one design without indirectly insulting the other.