I, for one, am really enjoying this game. Sure, it's a freemium game, with all the freemium trappings (ads [though you can play in airline mode], lives, timers, gold, slot machines, etc.), but once you look past that, there is a lot of fun to be had.
For example, the Peggle ball is like a pinball, so the stuff it hits bounce it around but the ball physics are supposedly metal to rubber. In SMB Bounce, the ball is rubbery and the pegs are a little rubbery, so it's like throwing a super bouncy ball into a plinko machine. I think that makes it more exciting to watch.
I also really like how there is incentive to replay levels you didn't get three stars on, since stars are how you get spins on the slot machine.
Of course, I would love to be able to get rid of ads, and I would love this to be a premium game instead, but I'll take what I can get. Finally, a portrait version of Peggle. Surprised they beat the actual Peggle to the punch, since we know EA/Popcap has it in the pipe.