Spent three nights here. It's not a hotel I'd necessarily rush back to, but at CHF100/nt on a weekend it's not a bad option in an expensive city.
Got an upgrade to a junior suite on a high floor -- pleasant, modern corner room with nice views. Toiletries were cobbled together -- some Bvlgari, some Tokyo Milk.
Lounge is still on the ground floor, but contrary to some posts above, I don't think the space is undesirable. The hotel has a partnership with some college art department, so it's not a cookie-cutter Renaissance. Due to Covid, lounge occupancy is currently restricted to 14 people. Never saw more than 2-3 people in there, but might be a problem during the week if business picks up. Offerings are pretty poor at the moment: two hot junk food items (pizza, fried spring rolls), some muffins/fruits (guessing leftovers from breakfast), wine, beer, softdrinks. Lounge was open every day, 3pm to 10pm, including Sat/Sun. Full buffet breakfast was available in the restaurant daily. A middling affair, mostly cold cuts/cheese. Egg items pre-made and sitting on the counter in huge piles, rather messy way to present fried eggs. Omelets were made from some weird eggo product.
I didn't mind the location. If you're interested in the touristy parts of Zurich, it's very easy to get into town via SBahn, or trams 4 or 8. The neighborhood has some hipster stuff, event spaces, cute outdoor restaurants, food carts -- especially the Viadukt/Markthalle and Frau Gerolds Garten are worth a visit.