No, I really like her. I wonder if that's because I'm enough older than her (and probably than you) to be more objective. She is playing the role the way I would expect it to develop. She has always been known for her brains, but she's going to have difficulty with crossing that over into being known for her beauty as well.
Thing is, beauty really does have the magical power to charm. Hermione, as aptly played by Emma, is a witch who must come to terms with her animal magnetism as a female. It is part and parcel of who she is, just as Harry's being male is part and parcel of who he is, and anyone who contemplates the symbolic value of a magic wand for a minute or so will work that one out.
You see, there is magic in the symbols, whether or not there is magic of the sort made possible by modern movie-making technology. Because the symbols tell us who we are, and what we have, and how to gain mastery over our magical tools.
The Harry Potter series is a vocabulary we can use to talk about ourselves, and what is real about the magic of who we really are.