Pepsi has, apparently, rebranded. This is a version of their old logo. What do you think?
In my design classes in college, we'd mock up designs like this - clean, modern, and usually unworkable in a world where packaging has to include color tests, nutrition info, copyright, contact info, sales promos, etc. The old, busy design could accomodate the weight of this information. The newer, cleaner design will look set upon by those additions. That said, it will provide more contrast for yellow ribbon sales promos that often ring the top of these labels.