Overpriced. Overhyped. Great if you've never been to an izakaya before.
I know that 'real' Japanese restaurants are hard to find in Toronto, but come on. Just because the waiters are Japanese and shout Japanese doesn't mean it is actually 100% Japanese - seriously, it's not that hard to hire Japanese staff. This is no indication of 'authentic' Japanese-ness. The food is clearly fusion (I mean, deep fried brie?) and whatever traditional Japanese izakaya dish it does make is lackluster. If you want even a decent sampling of the menu and drinks it's going to cost you upwards of $30+ person. It's not worth the two hour wait. Also, good luck trying to have a decent conversation.
Unfortunately I don't have any other good izakaya recommendations for Toronto. Oops. Guess you have to go to New York. Hence the three stars - three stars for Toronto.