It takes the rough outline of the original and tries too hard with tacky gimmicks to stay relevant. The guest judges that know nothing about food are irrelevant, having ex football players as guest sous chefs is pointless, and having 2 challengers facing against an iron chef is unnecessary. Having themes is also very odd considering only half the battles have any themes. It feels very inconsistent with its own changes to the show. Get rid of the gimmicks and stay true to what made iron chef good to begin with.
That being said the idea of having the opportunity to compete against all 5 iron chefs is a fun and interesting challenge. It is also fun having the nostalgia of my favourite cooking show from my childhood. Please keep the show but please don't change the original recipe to the point where it is unrecognizable.