Fair comment, but I couldn't find an HOL pic from the same vantage as the one with the sign (a before to the after I guess).
I don't love, but ultimately don't mind the wall and the sign, I just don't like the way it's lit. I think its a bit too night-clubby or as I mentioned, "Vegas". I agree that Waverly is not University Place, but that is literally as far as most everybody can take a car and it's right outside the Sheraton, the closest hotel to campus. I think it's odd that the University wants to "clean up" M Street, and then does this, which seems to be in line with the M Street of old. I like M Street. I like this kind of stuff at the athletic facilities. I don't love it for the primary vista and front door of the campus. Just my taste.