That about sums it up. I haven't seen it either but I saw the picture that was up when it was being constructed. In the picture it looked for all the world like someone giving someone a blow job. I took at picture of it and showed it to my sister-in-law while saying, "You can't unsee it," and she cracked up.
And dang last time I was in Boston I forgot to go check it out and see if it gives that impression in 3d, so I reserve judgment, as should you.
The argument that the money could have been better spent elsewhere could be applied to any public art project, scientific endeavor like going to the Moon or building the JWST, etc. etc.
You could throw it at my church because we occupy a beautiful neo-gothic cathedral and spend money on upkeep and restoration rather than selling all the stained glass, woodcarvings, etc. and converting them into crappy bologna sandwiches for Providence's many homeless people instead of employing volunteers such as myself to keep it open from 11 until 2 for people to come in and get out of the cold while they meditate, pray, or just check it out and take selfies. Man does not live by baloney sandwiches alone.