In a recent video(see below) released by the developers of Windows 8, they show the new ribbon UI, a lot like what is used on the Windows Mobile Phones (the Metro UI), but for a desktop, presumably with a touchscreen on it.
But, in a recent release, Microsoft eased everyone's fears by explaining the entire situation.
All in all, I think this will be a good step for Microsoft, but one cannot be sure, until you've had a chance to try out a product for yourself. Let's just keep our fingers crossed and hope for the best.
(Resource: arstechinca, Windows 8 for software developers: the Longhorn Dream Reborn? and Microsoft News Center, Previewing Windows 8)