I agree it's not as sleek as the traditional speedy, but the style is still pretty classic. Here are some examples of it being styled well, IMO:
A lot of these outfits do show their age--I'd lose the lipstick and switch to flat sandals in the first look, lose the sunglasses and necklace and second bag (why) in the second, swap out the red heels for neutral flats in the third and I'd remove the necklace in the fourth look. However, they're also a far cry from bedazzled jeans, so I think the multicolore speedy could still look very modern if styled appropriately.