Docklands ferris wheel - white elephant?

Driving over the Bolte Bridge the other day I noticed the Melbourne Southern Star Observation Wheel is nearing completion.

It looks to be a little out of the action. And I'm also concerned given it's size. It's much smaller than the London Eye. You really need the height to get a great view. And the London Eye is very close in the middle of London overlooking Big Ben.

Are ferris wheels the new monorail?

Does anybody think it will be great for Melbourne?

I found more information at the Melbourne Southern Star website

http://www.onlymelbourne.com.au/melbourne_details.php?id=12219
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I think that the Melbourne skyline has greatly improved over the past few years. Driving over the Bolte Bridge, the skyline looks great, and I know that with that big ass ferris wheel all lit up with look fantastic. I really noticed the impact of a good ferris wheel when I saw the small one near fed square. That all looks great at night.

Is it really that much smaller than the London Eye?

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