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The all-capital letters implies some kind of dominance, like our shadowy overlords watching over and controlling us. Using lower-case letters implies a more friendly atmosphere. The font is now nice and friendly rather than big and powerful, and the light blue helps that out. I think the point of this is that it might help improve the public's opinion of Wal mart as some power-hungry corporation.
But I do agree with you, it does seem overly simple, and not too much that'll really stick. The star is such a basic shape that it will take a LOT of branding to tie that to Wal Mart.