That is a very nice shot.
There's a turbo V8 in development, so I think it only makes sense to wait for that engine, rather than implement the older V8's. This is only my guess though
Here's another take. Most people on this forum believe that the E39 was one of the best BMW's made. When the E60 came, people didn't like the looks because it went too far from what was the perfect car. Even now, many will admit that the E39 is better looking than the E60. To me, the X5 was just like the E39. It looks just right. So now that they do an evolutionary design rather than a revolutionary design (E39 --> E60), people call them too conservative.
To me this new X5 is just right. From every angle, the car is muscular, but in a way more compact looking than let's say the Q7, which is something I really appreciate in an SUV.