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It does have a lot from the M1, that BMW Turbo concept also had two color tones so it kind of is sticking to its roots and for everyone saying it looks like a huracán remember the M1 was supposed to be produced by BMW and Lamborghini.
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... and it was guys that worked on the Lamborghini collaboration finished the design for BMW by quitting Lamborghini and starting their own company.
Bodywise, the only traditional BMW elements were the kidney grille (that has no chrome surround like the concept here), the lifted 6 series tail lights and the roundel - the rest of it basically looks like a Lamborghini of the era.
Once the M Next morphs into a production car it will probably look fine.