The only thing that makes this place worthwhile is the price.
As far as sit-down Chinese restaurants go, this is one of the most reasonably priced. Great if you ever need to feed a larger group of people. The standard menu items are pretty drab and uninspired. Just the same few mock meat dishes and pretty much everything tastes the same. Thick, salty sauces and MSG is the backbone of everything that you can get here. They have dimsum for weekend lunches -- it's passable.
Bottom line is you're better off paying a bit more and making the 5-minute trek to Graceful Vegetarian, located by Pacific Mall, where the food is much better. Wutai vegetarian, near Woodbine/7, is also a great option. Both of these places do dimsum (and standard dinner items) much better than Lotus Pond. If you aren't trying to feed a large group of people, then you can hit up one of the vegetarian food places in one of the nearby food courts for an even cheaper option that is comparable in quality and taste.