Here's a quote from the EFF statement that hits the nail on the head:
" Apple can
explain at length how its technical implementation will preserve privacy and security in its proposed backdoor, but at the end of the day, even a thoroughly documented, carefully thought-out, and narrowly-scoped backdoor is still a backdoor. "
And here's another one that expresses well how I feel about this:
"To say that we are disappointed by Apple’s plans is an understatement. Apple has
historically been a champion of end-to-end encryption, for all of the same reasons that EFF has articulated
time and time again. Apple’s compromise on end-to-end encryption may
appease government agencies in the U.S. and abroad, but it is a shocking about-face for users who have relied on the company’s leadership in privacy and security. "
To me it feels like a betrayal.