I agree it may confuse some people.
That said, I find the hype about the teardrop design just bizarre. Check out Gruber's treatment of the topic: http://daringfireball.net/2011/09/teardrop_skepticism
I have to agree with Gruber - a teardrop design for a device like the iPhone just seems wrong. When I first saw the CAD renderings for it, I had an immediate visceral reaction and it wasn't good; I hated it, and immediately thought that it seems gimmicky, at best. The teardrop design makes solid design sense for a device like a laptop that has a single orientation. But iPhones are used in landscape orientation often, and this device will not feel natural in landscape mode. It will also be heavier at one end than the other, making it unbalanced and more likely to be dropped.
My sense is that Apple would be stupid to depart from the industrial design of the iP4 at this time... especially to embrace a teardrop design that has NO useful purpose in the phone aside from being an obvious copy of laptop designs. When has Apple ever just copied the design of a product across completely different use contexts just because it worked well in the originating context? If that had been so, the iPhones would all have looked like iPods or mini-macbooks. Copying just for the sake of a gimmicky form factor would be very unlike Apple.
Bottom line: I think Apple would be more likely to introduce multiple models with the same basic industrial design than to bet the farm on something that is, ultimately, just a game played with form factor for no good reason. We'll see come Tuesday... but I think that the manufacturers of all these teardrop cases are going to be wishing they hadn't bet on such a goofy design ethos.