There's a line outside right now as I post this. Toronto - the city that always lines up for things without knowing what it is.
Let me put it out there. Reading the bad reviews of this place makes me laugh because of how completely illogical the reasoning is. There really 2 reasons that this place gets bad reviews:
1) It doesn't taste like Westernized cheese cake
2) The line is too long
Let's tackle #2 first. This store (I presume) has no control over the demand for it's product. If Torontonians want to line up for 1-2 hours for a $10 cheesecake, that is that person's choice. To knock down a store or restaurant because a person took a risk to wait a long time for something they may or may not like is not the restaurant's fault.
Now the #1. This cheesecake is as all reviews say. It's light. Fluffy. Dense in a way. Not in your face flavor. Now that's a positive or negative depending on whether you like it or not. But the fact is, this is what Japanese cheesecake in essence is supposed to taste like. It's like going to a steakhouse and saying the steak sucks because you don't enjoy steak.
So yes - this place is good. It is Japanese cheesecake. It is not westernized cheesecake. Is it worth a 2 hour wait? That is up to you and not the restaurant's fault.