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I personally don't mind the people. Don't feel it's that bad compared to any other organised rides I've done. The eastern bit is always relatively busy cars-wise regardless of when you do it.
I enjoy the fact there's food along the route on that day. Sundays are often when places on the Isle shut and is normally my day for riding so having places to refuel which aren't shops is a novelty (though in recent years a couple more places have opened up right on the route, so maybe that wouldn't be such a thing any more).
I'd say personally, the IoW loop is nicer not on randonee weekend.
It's nice and quiet route mostly best enjoyed without a thousand people around.