Definitely. This is a very pretty redesign, but I think the real secret sauce of Reddit is post titles, and comments, and you definitely lose something not being able to see either of those.
Let's be honest though, this grid-like interface is going to be used mostly for the NSFW subreddits, where the title and the comments aren't really that important.
how about for some sauce? yes, nsfw is the real use of this website, but I think having a way to get to the comments that usually have the source is missing a key part.