In my opinion, M235 styling is not even in the same universe as e46. In fact, how many other circa 2001 cars hold up as well? As previously stated, the e46 M3 is iconic in a way that I don't see a 235 approaching. Yes, the car is more capable...but not necessarily more compelling.
I do look forward to the M2. If the styling and steering engagement are improved, it might be my next BMW keeper