This is what its name says: it's a hole in a rock. And that's really it.
We went on a Monday morning and even then there were a lot of people there taking pictures. This attraction is right next to the Phoenix Zoo so you will see a lot of people from that. The space itself is really small so it's tough to get a nice picture without other people in it. If you want to avoid those people, go early because if all you want is a nice picture, it shouldn't take long.
It's about a 5 minute walk from where we parked. Where we parked, it's not a big parking lot but there's a ton of parking a little further out where the zoo parking is. I wouldn't even consider it a hike.
In terms of a view, it's not the best view because from where we were looking out, you're just looking at a parking lot. There are many other tourist attractions in the area that have a much nicer view.
There's really not much else and I'd say if you're in the area, stop by just to say you've been, but don't go out of your way to go here.