Is it a gaudy eyesore? An expression of religious freedom? A waste of money? A sign of hope?
Personally, I think that a church has the right to promote their religion in whatever way they see fit, as long as it does not significantly impact the lives of others. Having this big sign up could be seen as sending a message to non-christians that they are not welcome, which would be bad. Also, as mentioned in the vid, it is quite possible that the big cross will effect property values, a double blow to the non-christians in the area.
If they wanted to put one up in my neighborhood, I'd definitely be complaining!