I've seen some ponds with riprap around them that looked absolutely beautiful.
I think beauty is in the eye of the beholder.
As far as looking "natural", that was never a goal for our pond. I can walk a quarter mile and see all the timber and creek line that is as natural as it comes for this area. So for my wife and I, "natural" is not a highly prized look as we have it available anytime we want it. She wants the "well kept and neat look". I want it to look like I have actually done something. I've got farms with some "natural" areas on about every one of them. So we do not prize the "natural" look because it is available anytime we want it.
I can certainly see someone who has spent significant time living in a city or concrete jungle highly appreciating getting away from that environment. I can see where a more "natural" look would be highly prized. I know it would be for me if I had to live in a highly confined, structured environment and wanted to get away from that environment.
I like the rocked look around our pond. Wish it would stay that way. But it will not. Nature will do its best to turn it into grass at it earliest convenience and if I don't mow it, trees. So within a few years we will have a green grass bank pond like most. But at least it will be solid underneath and we can drive on it anytime we want. I would prefer the nice, white, "artificial" look, but nature will likely win out.
