Finally, it's here. The ability to edit the look of your WordPress.com theme to your own liking by editing the CSS of the Sandbox theme directly. The catch? It's $15 USD a year for it. But like someone said in the forums, people pay more over booze a week, so something like this shouldn't really be a problem for people that can afford alcohol everyday.
For the rest of the users that are on WordPress.com because it's free and they have no credit card, they would still have to contend with their uncutomisable theme appearence which is one of the main issues to begin with. In addition to that, what every WordPress.com account does have now, is the ability to keep your blog completely as private as possible, away from non-members and even search engines. Which means that lessens the ability for someone to stumble onto your private life should you choose to blog as that kind of person. I know more than a few people who'd love this feature apart from the basic password protected post features. But payment for better options aside, it probably is a step in the right direction and although is does come as a commercialized package, at least that would help WordPress developers work towards making WordPress (dot com and standalone versions) a little better for all of us.
I can't wait to see what else comes out of the woodwork on this one.