It's important to note that Apple doesn't hide the camera lens in every product shot. Brooks points out that the bulge is noticeable in quite a few product images, but Apple hides it in any profile views of the phone.
In other words with clever lighting and placement Apple hides that bump in profile view where it clearly would ruin the clean line and sleek looks. That doesn’t make the iPhone 6 bad, but it leaves a bad taste in my mouth. If you are embarrassed about the bump then don’t have it, but if you have a bump I think you need to own the bump.
You can take a look at some of the product images below.
So why did Apple introduce the new design?
The iPhone 6 is the biggest iPhone yet, and Apple likely wanted to keep the larger device lightweight and easy to hold; shaving off some of the device's thickness is one way to accomplish that. But the iPhone is also known for its great iSight cameras, and Apple probably wanted to make sure it improved the camera, a move that likely required a bigger lens.