Jesus Christ!!!
Six pages and numerous post on semantics ! !
In order to know if a project represents value for money, we don't only need to know how much it has costed, but also what were the aims of the project and if those aims have been achieved. It is too soon to evaluate the success of Windrush Square, so all you are saying, guys, doesn't have any sense until some more time passes and then you can do a proper evaluation.
I doubt, nevertheless, that TFL and the council have embarqued on such a a project without making the appropiate studies/research and proving "a priori" that will represent value for money. After all, everything that attracts funding nowadays must be effective, efficient and economic (represent value 4 money).
The project aimed to create a safe, high-quality public space. The rationale behind was to avoid those "collectives perceived as threatening" to gather in groups. Thats why there are no benches and chairs are grouped in a maximum of three. I think its called "designing out crime". Another aim was to give the square an identity, to promote sociability (everytime I pass by there is quite a lot of people on the grass enjoying the sun), and to ease people's movement.