Whilst I think the Nexus 4 is not a very pretty phone, making out of the rubber you lot suggest would have made it much worse. The Nexus 7 and Nexus 10 are incredibly ugly tablets relative to the competition and what we need is for google and other Android manufacturers to up the glass/metal usage, not decrease it.
I had an iphone 4 in my pocket for 2 years and it still looks fantastic (like the 3GS I had for the year before that). I had a Nexus 4 in my pocket for 1 hour on the 1st day I got it and then this happened http://i.imgur.com/R2LxggV.jpg. Did not drop it, bump it, or fall over etc.People questioned the durability of the iPhone 4 back and that held up very well for two generations of the device line.
I think that Google should have used the same manufacturer all the way across the bar. Made all nexus devices have similar design language. Recognizable...