Coke is overrated. Not too surprised that this is but then I haven't heard any hype over it other than from Coke's marketing department. Most people just roll their eyes when they find out what it is (them replacing about 1/3 of the sugar with Stevia sweetener).
Sounds like Pepsi Next which tastes fine two me.
It's kinda similar but the key difference is Coke Life uses Stevia (a newer sugar alternative that's supposed to be better, although for soft drinks its more that it's different from Splenda and Aspartame since both have become almost as unmarketable as HFCS).
I think Pepsi Next also uses HFCS for the sugar while Coke Life uses cane sugar.
Hmm seems like Pepsi Next changes depending on market, so some have cane sugar instead of HFCS. Same with the sugar alternative it changes depending on where it's produced.