I seen images and had the same feeling you did. It looks weird and silly.
It basically looks like a low budget SSJ3 with the crazy demand to bring SSJ3 back on top of it (due to no eyebrows). Back then, SSJ3 was like an extreme hassle to draw and was expensive to keep doing it, so they devised a plot within the story to cover that issue.
So in turn, this new form from Vegeta reminds me of that bit where they got tired of fans requesting it and decided to give it to Vegeta by making it with no eyebrows with shorter & spikier hair along with bulkier body builds it seems.
Well, Vegeta wouldn't use SS3 even if he's able to do it, remember how in the Cell saga he avoided using the form Trunks did after Cell achieved his perfect form? He might feel that SS3 has too many drawbacks in order for him to ever use the form, which again, could be an excuse for them to not give a SS3 form to him but we're past the point where SS3 is the strongest form a Saiyan can use anyhow.
As for the new "transformation", isn't that God of Destruction energy around him? Hope that this still isn't the complete form of the transformation, Toppo changed up once he used his GoD powers fully, maybe the same will happen to Vegeta later on once he masters the GoD powers the same way Goku "mastered" his UI form. Even though the execution isn't the best, I'm kind of happy that they didn't give him UI.
@ChaolanLegacy Oh yeah I know. It's just the consistency behind it. It's just that in reality, they simply didn't want to continue drawing SSJ3 it because it was expensive and consuming which makes sense, so they used plot to ensure they don't want to consume too much time drawing that form by having Vegeta saying those things.