hi well fr me there are a combinations of things
1- lack of concept
nowadays is not 2009 anymore and this is out of striking niches that sales are done in most of cases, bringing too generic things is rather synonymous with having the item buried alive and failing to reach the targeted potential buyer base. indeed, apart from the e-letter , i do not know what the logo stands for, i have to admit it …
2- execution
execution must be flawless here as this is a very crowded places with a lot of guys in town and an extended portfolio of templates, which basically means that rejections and standards go up all the time and ny imperfection is really not a good idea, but here the central part of the e seems not executed well enough if u ask me
3- coherence
i do not get it, why having so much inter letter spacing and having even more between the and the tens rest than between any single letter with the following one?
4- spacing
for me the text part seems dissociated from the illustration as the spacing between illustration, name and tagline is not the same which makes the logo look strange and not looking as a whole as it could be …
5- typo
this is sort of clan but most importantly definitely flat too … bringing variations, font combinations and touches of originality would generate more relief and raise more interest from potential buyers