I think one of the first issues with this bar is managing your expectations. For some odd reason people in Toronto believe that Tapas = full dinner and hanging around for hours. As such the place gets packed very quickly and you're unlikely to find anything for most of the night. Hats off to them for that, it's a big success! However, the service at times leaves much to be desired (as is often the case in Toronto). The last time I went I inquired into availability and the doorman (at a resto?) gave me the "big time" treatment.
Nevertheless I'll call a spade a spade and say that they've come up with a very good concept. The cocktails are great and the food is very well executed with wonderful authentic ingredients, which negates the need fo complexity. I wouldn't qualm about the price, because the price for good ingredients here is most certainly higher than it is in Spain, and they are honest with their offerings.
One can only hope the concept catches on and we can have a few more of these places around town given the interest....but seriously, Tapas isn't dinner.