The street life is dead. No shops, no restaurants, no coffee shops, no nothin' - hmmm. I understand your broader point, which is that the streetscape of Queens Quay is not a destination like Queen or College. But there are coffee shops (I can think of two without trying) there are a few restaurants, a wine store, and other retail fronts on QQ - not to mention the mall, though touristy, on the street. In addition, there are two theatres, a great art gallery, and various other odds and sods around. I agree that it's not a pleasant walk, but let's not overstate the matter.
Me, I think the row of condos along the waterfront is (post 70's), for the most part, a good thing.