I'm on record voicing my full support of the sign. I love the light it adds to the square at night, and the large font size allows people to physically interact with it up close. I wish I were rebuilt with sturdier materials, but I can't get over how much I love seeing it every time I walk past.
It's about time people have something else other than the CN tower to mark our city. Sure City Hall was incredible when it opened, but that was over 50 years ago, and it doesn't really pack the aesthetic punch that it once did. I still like it, but I don't take pride in it the way I take pride in Old City Hall.
The Toronto sign doesn't need to be an architectural gem, or a high-concept design piece to stand out to people. Design and tastes are subjective, so for some the Archer is the defining piece in NPS, and for others it's just a piece of metal taking up space (no offense intended, I like it, but I don't consider it iconic in my mind). The sign does exactly what NBGtect states. It shows people that they've arrived. 'You are now in Toronto.'
The modern world has blurred the digital and physical landscape for many, as most recognize landmarks through pictures long before they ever visit them in person. The CN Tower tells people where they are once they see it, and that effect isn't diminished, but the Toronto sign tells people that they have reached ground zero. You're here, welcome to our city. We hope you like it as much as we do.