Unfortunately beauty counts for nothing this season, Ferrari has tried a lot of new things with the rule changes and has done a lot of things differently than the other manufacturers (like Ducati in MotoGP, they are always one step ahead in development) but the results count and whether all the innovations and design changes will be successful, we will see at the beginning of the season in about a month, the changes bring nothing (like Ducati) at the end of the season without championship.
The scary part is that, there are 2 teams in the league that is KNOWN for sure that they spent almost all of their money for this years car. I mean other teams worked on the car as well of course, but we are talking about literally putting the money of last seasons into this season as well and that should have a big difference.
One of them is Haas and we all know how they were, they were dead last every single year but they promised their drivers and fans a great season for this year because for like 3 seasons or so they have put all of their money into this years car, they were so poor that even an extra crash would be a big problem for them. Hence, why we are talking about Haas potentially being a great team this year.
The other one was Ferrari, they didn't do it like Haas and spent a bit on their cars but still put some aside for this years car as well and everyone is expecting something exceptional from them since they were third without spending the extra, now they will spend the whole seasons money and all the extra they got from previous seasons as well, plus the only "Ferrari rule" extra income for them as well.