First of all, I had expected much much worse when I heard comments about Maquinna the evening before I arrived, so don't be put off by the negatives you hear before you arrive!
For Tofino standards, i.e. a tourist destination on Vancouver Island's beautiful West Coast on the Clayoquot Sound, it is a decently priced accommodation. But you should be aware that you do not get 4-star accommodation for a 2-star price!
The room was rather big, the bed comfy, the bathroom okay although the linoleum could have used some replacing soon, but it was still rather clean. (I had a much worse bathroom in a 5-star Fairmont hotel once!)
There is a bar downstairs in the same building (outside entrance around the corner from the hotel entrance), but it was closed when I stayed there (was already end-of-season), so I can't judge any noise comments on that, but you are within easy walking distance to some nice restaurants (SoBo, Schooner), and if you're digging pizza, there's a takeout across the street from the main entrance, and they're open rather late for Tofino standards (when I was there).
If I stayed in Tofino again for just one night (arriving rather late, leaving rather early), I'll choose the Maquinna again. If I wanted to stay longer, I might pick another place for a much higher price to get a bit more luxury, but generally (and especially if you have to be concerned about a travel budget) the Maquinna is quite an okay choice.

Considering all factors this hotel was a nice surprise. Clean rooms and bathrooms, great location, good internet reception, reasonable price. Close to all stores and restaurants. Fantastic sunset from the deck down the street.

Our other alternative was a hotel that had a room with a washer and dryer for $840 -- a little expensive just to wash our clothes - though they  really  needed washing.  Even before checking in, it was apparent this was not exactly like the $135 room that one might find elsewhere.   It is located next to a bar and a nightclub..  The people hanging around appeared to need quick access to one or both.  The hallway has stains on the indoor-outdoor carpet which was new 20 years ago.  The window in our room-- accessible from a flat roof 8 feet below - had no screen and was certainly wide   enough for a 200-pound gorilla to enter our room unannounced.  (None did.)  Fortunately, no bugs bothered us either, despite leaving the window open because there was no ventilation and the room had an unused mustiness.  Nonetheless, the sheets were clean, the bed was comfortable, the bathroom was spotless, the hot water was hot, the water pressure was decent and the 1990 television set was functional.  We were only awakened once by drunk screamers.   So, if you are so disorganized or risk-taking as to wait until the last minute to make reservations in Tofino during high  season, then you  know there is at least a clean bed...

My wife and I spent the weekend in Tofino, staying at the Maquinna Lodge. There were lots of backpackers and noisy young adults running around the hotel throughout the night, yelling and screaming without consideration for other guests. The room was warm so we tried leaving the window open, resulting in even more noise coming from the busy intersection below. Isolated and limited parking. Look for an alternative!