All of the logos in the early 90s looked good. Every team that has changed their logo since then has made it worse (Canterbury realised it and went back to a version of their old design that looks fantastic). So many teams have logos that don't stand out on their jerseys.
The worst change though has been teams divorcing themselves from their geographical base (as this new Penrith logo does) and focussing on the nickname only. The NRL and the media have been pushing this since Superjoke, and I'm frankly sick of it. I don't follow "The Dragons", I follow the "St. George-Illawarra Dragons". I like the fact our logo has the words St. George and Illawrra, but doesn't have Dragons written anywhere. I've noticed channel 9 scribble "Dragons" underneath our logo sometimes because of this.
The way I look at it, the biggest sport in the world, soccer, doesn't see the need to follow a marketing trend and ditch referring to teams by their geographical location, so I'm a bit bemused why every other bloody team sport seems to feel the need to do so.