The bear models in FFXIV (unlike the wolf models, which - aside from the kamui mounts - look incredibly stupid) have always impressed me - they're hulking, vicious, almost otherworldly looking things that also are instantly recognizable against their real-life counterparts.
The polar bears, in particular, have always reminded me of a scene from Game of Thrones (a series I never watched and never will, though this part here is pretty cool):
https://www.youtube.com/watch?v=4t3S_OY7bpI
While I have nothing particular against the... ursine... creature that's a reward from the festival, it's not really a, uhm, well, it's not intimidating, that's for damned sure. In fact, it's more like a white teddy bear than anything else. And that's fine - if you want to look cute, more power to you. That's what 90 percent of the game is about, anyways.
However, I would still like to see an actual polar bear mount added at some point that uses the older (and far more detailed) model. And I hope this didn't just kill any chances of that happening.