I wouldn't say they've copied iTunes - but it certainly is a lot closer to iTunes than Windows Media Player 10, which was typical MS eyesore design. They seem to finally get the idea that people don't want to use a *wizard* for everything they do.
If you open iTunes, it doesn't come up with a menu "Play music" "Play movies" "Rip music" "Copy songs to my iPod" ... iTunes just does whatever you tell it to. Anyone who used WMP9 or 10 knows the awful way they handled the interface. Still, knowing MS this version will still treat users like idiots, refuse to support common formats, and bring up annoying ads and offers at every opportunity.