While Pepsi has long been marketed as the cola for the younger and hipper generation, it's bottle has never been as distinctive as Coke. The new bottle is meant to express Pepsi's "brand DNA."
The new bottle looks to be a bit top heavy with a smaller label (but a bigger logo) and a etched grip-able bottom that is meant to give customers "a more stimulating, tactile interaction with the bottle." I'm not so sure of that, but I'd guess you'd be able to tell the difference between it and other drinks if you were blindfolded and picked up the bottle. The grip has a slanted and slightly ridged swirl to it.
Personally, I think it looks like a water bottle.
Here's the old bottle for comparison: