^ Hear, hear.
I thoroughly agree. It's fine - or perhaps, inevitable - that a place develops a vernacular. Toronto's had quite a few waves of vernacular architecture since it's founding. We're not quite as bound to one style as other, older more cohesive cities might be. In fact, we seem to enjoy carelessly throwing them together.
There's the argument on this forum that the condo architecture of the last ten to fifteen years marks the emergence of a Toronto Style. I'd have to respectfully disagree- - mostly because the squarish style of most new condos can be seen anywhere in the world (they're not even as original as Bay-and-Gable even was). They are direct, unapologetic descendants of the International Style via Mies, Gropius, and SOM with hardly a line of variation.
Just because buildings here are being built alike most of the time, doesn't mean they shouldn't be more exciting, more of the time. The bar could be raised - and that too would have a 'normalcy' to it after a bit - though of a more wonderful kind.
The word Starchitect (not a great word, anyway) is beginning to gather untoward looks. Still, if we can't have outright innovation and deeply new architecture, it would be good to have some high-powered help in to keep us from being boxed in by dull predictability. I think international design competitions would be a good thing - recommended for medium-sized buildings, and mandatory for those over a certain size.
With that said - I think the design for this particular building is third-rate, and would really benefit from being handed at the very least to a competent Canadian firm, or better, opened to international competition.