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I'm of the opinion that the almost 20-year-old (base) design of the Playstation controllers desparately needs an overhaul, and not just turning it into a boomerang.
The first PSX controller was awesome. I remember reading an article in Next Generation that briefly went over the design process of it. Making sure it was weight balanced - adding the wings to counter-balance the triggers, testing scenarios where you would be constantly putting down and picking up the controller (they used an RPG as example for that). Making sure the buttons had the right amount of give and responsiveness.
That being said, I'm glad Sony went back to concave sticks. Their first analog controller, the Dual Analog, had them, but they were hard plastic.
I guess it's a love it or hate it thing. Just like this thing:
(loved it, aside from the stick)