It's sugar-coated shabbyness. I have been there in wintertime, all the rides and attractions were closed, but it´s still nice to have a walk on the beach or spot some funny looking storefronts and vintage-looking rollercosters. A perfect backdrop for photoshootings, a gem for friends of vintage typography. On 4th of july hot dog eating contests are held here (they actually do that!).
Erie Basin is a really wonderful little shop full of old, creepy and beautiful things, such as Victorian mourning jewelry (some with hair in it), Freemason masks from the 1900's, tiny children's rings from the 1700's, and all kinds of other treasures. It is really as much a museum as it is a store, and all of the items have a haunting and unique aura.
The reputation of Mission Chinese Food is for being cool, weird, and extremely eccentric, which tends to mean that you either love it or hate it (an assessment that is at least somewhat correlated to your personal tolerance for spice).
The operators of the Peter Pan bakery make the best donuts I've ever tasted. This place is charming to its core. Decor and presentation: circa 1971 & virtually unchanged since.