Not terrible IMO, but not nearly as much of a step up from 2nd Gen. IMO Toyota made great leaps forward with every redesign of the Tundra, this seems at best to be a step sideways.
Hey Toyota, you want to break into the 1/2 ton market? How about being the first company to put a diesel in a half ton? Is that rocket science? How hard is it to throw a turbo on a V6? Ford did it with great success. Hell throw a turbo/blower on the 4.6 and make it put down significantly more power than the 5.7 If you want to attract new customers you have to be significantly different, the lines have already been blurred between 1/2 and 3/4 ton trucks who is going to spend the same money to get a Tundra if you need to tow 10k lbs regularly? They are going to get an F250, simple as that. And if they want MPG they will still get an EcoBoost.
So Toyota, don't be surprised to still be 5th in the full size truck market. You blew other 1/2's away in 07, but they've been playing catchup and you've been apparently resting.....and it shows.