The Momentum 4 represents a significant design change from the previous generation. Sennheiser moved away from the retro-inspired look of the Momentum 3 and introduced a simpler, more modern design. Some people will prefer the cleaner appearance; others may feel it looks less unique than earlier Momentum headphones.
Build quality is good — but not luxurious. The Momentum 4 uses a significant amount of plastic. That keeps the weight reasonable and the price competitive, but buyers expecting premium metal construction may be disappointed. If you care about durability + low weight + practicality, the construction makes sense. If you care about metal and luxury materials, competitors may feel more expensive.