In fairness, that image was made in Excel and it was just a quick mock-up. And everything always looks a little bit worse when you involve Excel. It's almost like a magic trick, really.
But I do agree that it comes off a bit intense. Too much data in too little space, and too much, ahem, rectangularity, if you will. But then again, Excel. It does that. It's a wonderful application that can do just about anything, up to and including regular brewing of coffee if you've got your kitchen IoT-ready, but looking at mock-ups made with it does tend to be like rubbing sore eyes with sandpaper.
However, I think that maybe GM is getting a bit ahead of themself. The current inventory interface is not, in my view, totally horrendous. It just isn't quite as easy to work with as one would expect from a UI in 2021.
Multiselect is an absolute must. Dragging things around one icon at a time is ghastly. Having to right click and find "send to -> x" in the menu for one item at a time is ghastly. Multiselect fixes both these issues.
There's also, I feel, sort of a lag in the menu. It feels clunkier than it should and it feels like clicks occasionally do not register. That has to be fixed.
And it is fairly clunky to drop things into containers. The old Infinity Engine could automatically push an item into a container more than 20 years ago.
Quicksell, that I am not a fan of. That's too easy, takes the feeling of actually going to a merchant out of the game.
Send to camp, it feels a bit odd. A bit too meta. It is needed right now, given the rather restrictive carry weight limits that prevents players from just carrying around all the interesting stuff that they don't know if they'll find a use for. But making the feature more accessible would completely undermine the entire concept of carry weight limits. Just move everything to camp while exploring, find a merchant, then remotely move everything from camp and mass sell. And it would reenable aggressive barrelmancy, which is a funny concept that really should stay in the DOS series.
