reference of "its"

Does the highlighted "its" refer to "Trafalgar Square mob freeze"

Context:

In a sense I am not too interested here in mining Quinn’s installation for further possible meanings (valid as that may be as an exercise). What is more pertinent for my purposes is how the artwork has effectively instigated – or continued, in fact (see note 11) – an evolving trend of positioning the public to view Trafalgar Square as a whole as a space of contesting narratives.Arguably, then, the supposed ‘readability’ of Alison Lapper Pregnant is entirely apposite for a piece of public sculpture that will be experienced by most people – whether visitors or London residents – in passing. Its ‘instantaneousness’ as a resonant counterpoint to Nelson and company is, therefore, exactly its strength and, moreover, not necessarily the only level at which one may wish to engage with it. But it gives momentary pause for thought perhaps to the busy pedestrian around the themes I have touched on above, in the same way that Thomas Schutte’s Hotel for Birds, which followed it, patently attempted to say something about the ‘tourists-and-pigeons syndrome’ associated with the square. Its specific critique of the ‘place of statues’ in London’s performance of the story of itself as a city could also be said to be the lingering trace within the space of the public imagination – or perhaps it was the public unconscious – that prompted the time-based Trafalgar Square mob freeze: a theatre of mortal statues. In turn, Anthony Gormley’s commissioned proposal for the next fourth plinth installation, entitled One and Other (and imminent at the time of writing), has promised to continue this ongoing conversation between the square, its monuments to individual war heroes and ‘ordinary city folk’.