• it faces or looks onto a road and tram stop.
• a bunch of buildings obstructs any view of or access to the much more pleasing river and kings domain and st Kilda rd, which should be the focus of attention.
• it’s slanted down toward swanston as though you’re not supposed to be there. Additionally, there’s no central focus or attraction to make it seem like a place you can just hang out in. The back of the square feels and looks exactly like that, the back of some area. The stage and screen kind of make it a place but only when they have something on.
• all the eateries are expensive and “fancy” rather than providing just normal stuff for people to consume not as an event but an act of gathering and communing with each other. Beer deluxe might be an exception but that’s literally outside the square.
• no shade or trees or greenery.
• only sitting area is on the swanston street edge looking, again, at the tram stop rather than the river or anything interesting inside the square.
• the building designs are fine, I don’t mind them, but I don’t think they’re interesting or special, there’s nothing about them that make you want to be there and look at them IMO.

I’d compare it Southbank with IMO works better. It’s in the river, has trees, places to just be (sitting on the river) and more varied dining options.