I'm not sure that is enough. You really need a rounded bottom outline to the shield in blue to provide a hard outline. Right now the bottom of the badge disappears into the white and orange uniforms. And you want the rounded outline to take away the downward pointing arrow.
I don't think it will hurt the brand that much to tweak it in a year or two and get something reasonable. The attachment is really to the idea of a shield, so if you make a better shield it won't be a hard sell. And let's face it, we really don't have that many rabid fans buying up and getting attached to merchandise right now.
No, just group psychology. If that logo had been presented by someone on this forum as an idea last week most on here would have ripped it as idiotic. But once it is OUR logo, then all the emotion swings in and most of the really rabid fans rally behind the team. Most on here would have supported anything Nike came up with. The same thing happens when someone buys a house. When they are looking at houses, there is a ton of criticism and doubt. But once they buy the house, most people develop an incredible emotional bond with their house, are convinced they made a great buy, and can't see the flaws.
Just look at the rationalization for the logo? Straight lines of unequal length are columns? Two F's? Really? C'mon, no one not caught up in an emotional frenzy would buy that.