For the most part, most of the old Cobras looked pretty damned similar to their standard GT counterparts. I'm sure Ford expected a number of people to say that they wanted a more differentiating exterior appearance, but there's at least an equal number of people that don't want one. And while I myself agree it'd be nice to see something a little different visually, as long as the regular-looking Mustang bodystyle is popular and selling in droves, why mess with an apparent good thing?
The problem with bodykits, particularly when a standard look is selling so well, is that you're almost always going to turn some people off. Mustang buyers, by and large, don't like bodywork that screams "Look at me, I'm different!". They spend their money on performance and that's largely what they want Ford to spend its' money on. The people that want to look different are going to look different no matter what Ford did to the car; they're going to put their own bodykits on the car.
The aftermarket has done an exceptional job on the Mustang's aesthetics. Let Ford put its' money in the things that the aftermarket and customers can't easily do -- like built-up 5.4L motors, 6-Speed transmissions, and maintaining good chassis balance and driving dynamics in a full suspension package.
