I'm probably going to get blasted for this, but I actually like the building; at least the top floor. If all the tacked-on signs and renos weren't there, and the brick was sandblasted, IMO the building would represent its era pretty well.
I think that the building that's being proposed, while helping to even further gentrify Queen West, needs some work. I wouldn't go as far as saying it looks bad, just kind of typical and even a bit boring. For some reason it seems late 90's to me.