That is a lot of bulk for Steeles...it'll look odd as long as it's not matched by adjacent blocks or the other side of the street. I don't like how it hides the iconic barn, but I do like how the big red signage is moving on over to the new facade. The barn will still be visible from the north, so it's not a total loss.
Vastly improved Stouffville GO service will be required to make a dent in the traffic/parking nightmare this could be, particularly since the GO line runs through the areas with the highest Asian populations in the GTA and, in general, has wonderfully sited stations.
Scarborough Town Centre is renovating because Yorkdale renovated, which forced Fairview to renovate, which forced STC to renovate. Mall renos always happen in waves...decor ages fast, especially when the malls are competitive.