Is iphone 4 antenna the problem of losing signal?

Many blogs confirm this story that the iPhone 4 loses reception when the antenna band is touched. Plus, its enough to drop the calls. This is a serious problem, and I couldn't believe Apple let this pass through.

My friend's new iPhone 4 drops from full signal (four to five bars) to just low signal (one bar) in a couple of seconds when the antenna band is touched by my fingers. But when I remove my fingers from the sides and hold the phone by its glass back, the signal bars quickly rise up to five again. The problem was reported by many blogs and sites with many videos supporting this thing, and it seems to widespread, if not universal.

Its just enough to make the iPhone to drop calls. I just tested it by holding the iPhone in my left hand while I was in between a call, the reception plummeted and the call dropped all of a sudden.