Ferris wheels are great, but skyscraper-size billboards are not.
I'm a huge fan of the British Airways London Eye, an exception perhaps, as the branding isn't visually obvious and it was designed by the talented architects at Marks Barfield. Of course, one of the best things about the London Eye is its prime location on the banks of the Thames (the Pepsi Globe will be in massive Xanadu Amusement Park which when complete will be 94 acres!).
The Pepsi Globe will have some similarities to one of the many urban Ferris wheels popping up around the globe (coming soon to Singapore, Berlin and Beijing) the Globe will have 26 glass enclosed capsules and a branded space below.
For me, the desire to take a 25 minute capsule view of this city from up high, the Pepsi Globe will be in East Rutherford New York and will boast views of the New York skyline and Hudson river, perhaps balances its 'pepsi-ness'.