Massive box......though with all the comfort of home
Before you consider this hotel ask yourself this: If you lived in an apartment, would you like to live in an apartment that has 100 units or 1000 units? Think of the benefits that come with the 1000 unit apartments vs. 100 units.....most likely more amenities like maybe a pool or a bigger gym or more dining options. Then think of the cons of a monstrosity like that, WAY more people, way more problems, how much care can really go into each guest and room, etc. 
I am torn on this property, part of me likes it for the nice gym, size of the rooms (which in New York seem to be the size of closets) and obviously proximity to Times Square (you walk out of the hotel directly on to Broadway & 45h St). But the other part of me hates it because it takes forever to get to the front of the line at the front desk or concierge if you needed anything or that you have to wait forever for the elevators 
Things to note: 
*Breakfast buffet is somewhere around $40 per person, a la carte omelette one day was $25 or $30 so it provides better value in my opinion. They had Naked Juice bottles as part of the buffet which are usually $4 each so I made sure to get my days worth each time I did the buffet. They do have a very nice variety so it's worth it in my opinion but of course to most people it will seem outrageous. 
*The gym is really nice, plenty of cardio machines, free weights, machines and yoga/stretching equipment
*The WiFi throughout the property is terrible, I stayed in a corner "Times Square" view room and had zero reception on either my phone or the internet
*Make sure to have a drink in the lobby bar that overlooks Times Square, worth the $15 martini
*Don't bother trying to check-in before the 4pm check-in time, even with a 1000+ rooms there never seem to be rooms available they can give you
*As I mentioned before, the rooms are really spacious, all categories. 
*There's a lot of convention space so be prepared to share the hotel and the restaurants with a few 100 of your closest friends
I tend to lean more to boutique hotels when I travel, but that is obviously a personal preference because I like quiet, private and intimate hotels. However, this hotel provides a lot of the comforts of home which is why I imagine a lot of people find this hotel attractive and you can't get a better location if you want to be in the heart of the theatre district so if you can bypass the annoyances that come with a large boxy hotel then you've got yourself the "value" you're looking for. 
Safe travels!