This seems a bit over stated. It is reasonable to base an expectation for one situation based on the repeated experience you observe in similar situations.
Based on my experience, too often we invest money to built public resources, but not consider the pool of funding to maintain those same assets over time (even though we know at the outset there will be ongoing maintenance costs). If we know those resources are put aside - then evaluate this piece in its current context, if one does not believe those funds are more likely than not - then evaluate what it will look like accordingly in 10 years.
Setting aside any discussion of the merits of the crane........
I agree that the City often falls down on long term maintenance.
Some of that is a routine funding issue, some is managerial competence........some is not thinking through proper initial investments. (in the context of parks, that can be paving or obstructing desire lines, irrigation of flower beds and sports fields, protective, ornamental fences around flower beds, etc etc.)
On the subject of larger, artistic pieces, like the crane, or like a nice fountain might be thought of........ I strongly favour a Public Art Conservancy. Having staff who love art, and are expert in its maintence funded through an endowment.
If we put 1/2 of all the public art funds the City collects into such an account, we could be build a formidable war chest to care for such things properly over a decade or two, supplementing with existing funding models until the money accumulates sufficiently.
The other 1/2 of funds, I would like to see pooled for new public art investments.....the pooling is important, one reason we have so much lack luster public art is the relatively small budgets for same tied to one-off projects.
If we pooled funds at a neighbourhood or district level, we could execute projects with budgets of 2-10M instead of $200,000
I would also like to see the funds opened up to pay for enhanced architecture as art, with design competitions for things like parks washroom pavillions or dramatically enhanced tile in subway stations, making the investments more practical, while also adding beauty to the public realm.