I'll join the growing chorus of "eh". This seems like a less-ambitious version than an earlier rendering, which, IIRC, had more of a PBS-like swooping canopy thing going on. This rendering also doesn't show the Walnut St. renovations, which should be designed to integrate with the new Fountain Sqare. I wonder if the designers thought of that? The south side of 5th also looks less changed than I recall.
That said, I don't hate it. The canitlevered canopies recall the Ft. Washington bridges, sorta. And, as has been noted, the most important thing here was solving the traffic and safety problems, for both buses and pedestrians.
As for using the would-be multi-modal transit hub on 2nd St, that's a decent point. I think the main bus hub should be located more in the heart of downtown, at Govt Sq. Plus, I'm a sucker for the history of the place. The 2nd St transit center seemed to have been built in the expectation of future use, and for events. Also because we were tearing up stuff already, and we got federal cash to spend. The latter probably explains the most.