I think it's pretty damned cool.
I can partly understand why certain members are decrying the lack of retail on street level, but one mustn't forget that this is a student learning centre ... for students. Sure, you could argue that the urban setting begs the building to interact a bit more with its immediate surroundings by offering a smattering of shops right along Yonge, but what sort of marvels of the service industry would we really end up with? Probably a Starbucks, a Booster Juice, and a Thai Express.
All in all, I think it offers a great deal to the street just by being what it is. Its unique presence will probably help anchor some solid retail in the general vicinity for years to come, above and beyond what's already there.