The KPMB proposal is beautiful and well done, but to my mind it misses the point of this location and this brief.
The objective here was fairly explicit to create a landmark, but what they've created instead is essentially a park, a very contextual park. Even the pavilion is hidden under a grassy slope, barely perceptible as a destination from the lake or from further along the waterfront. This is misguided. This location should act as a beacon, drawing people to the waterfront and the island. In other words, there is no 'there' there.
I agree that functionally it works, and it offers some real nice features (love the boardwalk and the connection with Bay), but ultimately it is so ideologically contextual that it fails to define a sense of uniqueness of place or project a sense of specialness of experience that should be here at the ground-zero point where our city connects with its lake and its island. Instead, it underwhelms.