If it is in poor shape, the question I would ask is, where was the stewardship over the past 12 years while it stood idle? From the photos, it does appear to have had plenty of TLC in earlier times - roof, windows, etc have been updated. Demolition by neglect is a common reality but never to be condoned.
A building this old may have lead (and possibly asbestos) abatement issues and may need HVAC, electrical, and plumbing work to be brought to codes - as well as accessibility changes, etc. If it were to be repurposed, the mods needed will need to last for the next 25 years, so limping along with the legacy amenities just isn't realistic.
I hate to see a landmark building of any type torn down. Heritage is about the connection to the community, and not just how pretty the building is.
But, on a straight comparison of - demolish this building and build a new shelter, versus repurpose this building and invest in it, I can't fault a town with a finite budget for choosing the former.... I just hope that the replacement is potentially of landmark value, and not just a bus shelter.
- Paul