Not annoying to me at all.
If -yes if, we'll have to wait and see first- they prove to be fastest again by a considerable margin, then again, they've done their homework better than anyone else, and show a better and deeper understanding of how everything actually works.

Personally, I can see the humor of Mercedes being beaten by a car featuring ideas that where Mercedes in origin, but which they didn't manage to fully grasp the potential of.

I love it, when despite all F1 is doing to 'equalise the playing field', which is the euphemism of the century for heading towards spec cars, that there's engineers that still manage to outsmart it all.
To me, that's what F1 has always been about. I hate seeing all these deliberate restrictions and can only admire there's engineers still finding options.
Mind you, that, e.g., applied to Mercedes' DAS as well, it's not about any specific team at all.

I have no doubts there will be additional rules or even in season 'Technical Directives' (talking about euphemisms), should Red Bull prove to be 'excessively' dominant again.

Except maybe for:

the reigning world champion who is seeking to win a fourth consecutive title this year

Consecutive means back to back, right?. Following one another?
So consecutive could be a minimum of two, up to whatever, as long as there's no interruption.
Say the minimum, two, that would mean fourth consecutive is eight titles already. With three, that would be twelve etc. Sensational. And news indeed.

I guess it should have been the other way round: 'seeking a consecutive fourth title'?