Yes, the hotel already sticks out. It's still a bit tough to tell how much more condos will stick out...and where. Driving up University, the towers may be far enough to the right of the central block that there's sky in between, which, depending on their design, may not be horrible. From the perspective of someone walking up the west side of University, however, the towers might be placed behind the tall central roof, which may be horrible.
The problem with some ruined view corridors isn't simply that something has been built behind it, eating up the sky, but that what was built is not a suitable colour or material, or is off-centre or asymmetrical. Queen's Park is huge, surrounded by large trees and a circular road...it's much tougher to design and position something that fits in, but at the same time its site plan causes its views to probably be more forgiving to intrusion than something like Old City Hall's clock tower, which always had a more constricted and framed view corridor.
I consider things like the massing of the buildings at the corner of College & University a far greater disruption to Queen's Park's aesthetics than a potentially more intruding background where an intrusion already exists...clockwise from 'Foster''s Pharmacy building, we have square, curved, square (probably), and curved. Yeah, that worked out great. If memory serves me correctly, University's boulevardization has already caused Queen's Park to be shifted over from the centre of the street. The current views aren't pristine, though that doesn't mean we should bother trying to maintain them.