I don't fear that this would make us a laughing stock - if people want to make fun of Miami, we have given them plenty of better reasons - I just think this might be an afterthought from the beginning. They've managed to make a nearly 1,000 foot structure on a prominent stretch of land almost entirely unnoticeable, in my opinion. Between this thing and the "signature" bridge for 395, we're not proving ourselves to be very skilled at making iconic symbols.
On the other hand, it might be a good thing to have a kitschy observation tower to siphon off the tourists from other, more sophisticated observation towers. Kind of like how the Sears/Willis Tower is for tourist photo-ops, meanwhile the Signature Room permits a much more relaxed, intimate experience to truly take in and admire Chicago.