I don't get the hate for the Corolla. It's not an enthusiast car, and never will be. Toyota has designed it to appeal to the greatest number of people possible. This thing is all about sales, pure and simple. It's not a niche car. The vast majority of buyers want a comfortable car that gets excellent fuel economy, lasts a long time, is cheap to insure (premiums not driven up by ricer-racer claims), and holds it's value.
"Where's the 200hp version?"
Uh, why? Other than a few folks kicking around here, 99.99% of Corolla buyers don't even know how many horsepower their cars has! Seriously! They just care that it has enough that it feels peppy. "But Honda sells the Si." Yes, they do. But Toyota is going after the mass market, period.
"Where's the nineteen speed DSG-style transmission."
This car is $19,500 in what will be the most popular model/trim. That price includes a CVT, LED headlamps, AC/Cruise/Etc, and a TON of safety gear including knee airbags. Ask 99.99% of Corolla buyers how many gears in the transmission, and they don't care. Enough that it feels right and gets great fuel economy.
"The handling needs to be razor sharp!!"
Why? Oh, yeah, I forgot, the Corolla is THE autocross machine everyone's been waiting for! Seriously, 99.99% of owners want a comfortable ride with predictable handling that has no surprises. Toyota is not going after the small number of Si buyers, etc. They're going wide, really wide.
"No rear discs!!??"
Our 2700lb Corolla stops very well. It rides on pretty conservative tires (though we have H-rated performance tires on ours) and the brakes work very well. Maybe not a on track day or with the car being wrung out on a mountain road, but who does that in a Corolla? The rear drums work more than well enough. And they LAST. Our car has 125K on it, and the rear shoes are barely half worn. It's a very front heavy FWD car that has no performance mission whatsoever.
Would I buy a Corolla for myself? No. Is it the PERFECT car for my missus? Yes. She has no idea of how many HP the engine makes or the number of speeds in the transmission or whether it has rear discs or not. Really. She has no clue about those things. She knows it will go 550-600km on 42L of fuel in all city driving and over 800km on the highway. She knows it costs $600/yr to insure. She knows it has never needed a repair and rarely needs servicing. She knows it rides nicely and never surprises her when she turns the wheel or uses one of the pedals. (unlike some other cars we've owned) Perfect. So perfect in fact, that she'd never consider another brand were she shopping today. If she needed a new car, she'd go to the Toyota dealer and find something there. Maybe a RAV, or Venza, or another sedan. Probably another Corolla.
How is that bad business? If I were an auto exec, I'd dream about creating customers like that. Toyota has LOTS of them.