I was pretty disappointed by Ghosts... I never realized how much polish it takes to turn noise into an album. Ghosts is just too unfinished sounding to me.
Hopefully this is a little better...
Then again, I paid a whopping $10 for Ghosts, and this one's free, so as long as Trent comes around in a few years with something new, I'm not complaining if this new stuff is less awesome than the full albums. It's sorta like getting to listen in on his 5 year long development process for a new album.
...now, if only I'd get my email from nin.com to allow me to download The Slip.