Some of these are better sound-proofed than others. Some even have little TVs or radios inside, but I've never found that worse than traffic or construction noise if you're anyway in the city. There's always earplugs.
Shared bathrooms suck, especially if you need to be out during "rush hour" when everyone else also needs to be out, but for a saving of $100+ per night there's plenty of people who would gladly accept holding their pee for a few minutes and/or getting into an already-steamed-up and damp shower cubicle. Most people gotta work 4 hours to make that kind of money back.
The main lobby was nice and a pint was a reasonable price - I sat there after having dinner at work, and read a book, which felt pretty nice to be honest.
The bed was comfy, with clean good smelling sheets.
But there were three issues that meant I went back to relying on friends and family until I got a local job.
1. Someone's feet smelt terrible - so bad it was hard to sleep
2. Someone snored loadly - it was even harder to sleep
3. The shower was grimy. I was lucky to have a ThirdSpace membership so showered there instead
It was a bargain and saved me traveling after a long day of work and having to be social after a very early start to get to London on the Monday. But the better option for me was to find a suitable local job and not do the extra long week commute. (I was also missing my family loads too, so it was never a longer term option for me).