When we were still thinking about supporting alternatives to ppd, this UI might have become more problematic since with more profiles it would be somewhat cumbersome to cycle through all of them. But since this is off the table for now, that's not really an issue now.
The current implementation was also ugly in that it duplicated a lot of code from the KScreen OSD; ideally they would have been unified into some reusable component but that hasn't happened yet, so in that sense this is an improvement to.
So +1 in general.