So you have a couple options here:

1) Push through anyway and never have this project in your portfolio, and start opening up to people and go after the type of design you want.

2) Don't, and make yourself miserable.

Have you ever read "A hunger artist" by Kafka?

I know many students who look at the work-in-progress and think its not up to their expectation - sense thats normal. Remember its not the final outcome that is important but the process you went through during your full education.  

Take some acting classes - will build your self confidence -

Designing "beyond the box" is not what you do in the real world.  99% of client don't want that, and they will not permit you to spend their money pursuing your fantasies.  Your supposedly more talented classmates are going to slam into that brick wall very soon.  Relax and stop with the panic.  God, I hate the brainwashing that architecture schools do with this design-is-everything shit.

Finish the damn thing and take a few weeks after graduation to visit some exceptional works of architecture before you start working - you never really finish learning. Visit classical and modern buildings. After reflection you might decide your project was not too bad after all.

many students don't realize that school is only the beginning, not an end, or any kind of meaningful half-way point - it just a fraction. Questioning and being critical/reflective sound like very healthy forms of being-in-the-studio.

I was a mediocre architecture student and looking back, that is not so bad. It seems like a number of the people who had "fresh and original" ideas or "pushed the boundaries," who were the darlings of studio aren't really doing anything like that.

OP, there's nothing wrong with boring. Second, the fact you can critique your own work is very valuable, I'd develop that further. Maybe instead of changing your entire project last minute (and still leave you dissatisfied, be sure of that) end with a critique of your project. If you can identify the "flaws" but are unable to fix them, you're basically half way there where most will never get :)

As others here have said, studio is not the end-all-be-all that unis make it out to be.  It is a series of classes in school - so what?  FINISH your project.  Even if it makes you want to vomit.  Even if you're embarrassed by what you produce.  Just get that piece of paper so you can get out and start learning in a real environment.

School is just the starting point.  Nothing to really judge yourself by.  I was horrible in studio.  Had my best friend tell me I should change majors because he could tell by my studio work that I wasn't cut out to be an architect.  Now I'm working, learning a ton, and doing great in a job I really enjoy at a firm that does great work.

OP, this is old, but quite relevant if you've never seen it:

Keep grinding and don't be so hard on yourself.

Post that project here so we can see what you're talking about.

This is good practice for the real world, when you sometimes have to push through on projects and parts of projects that don't excite you. This may be the most important project of your career to date, but completely inconsequential once you start working. 

you're good at hating, use it.

Walk down a city street and look around.  Do you like any of the buildings?  If so, ask yourself why and then try to incorporate those things you like in your work.  Good luck.

wait till you get into the real world kid.

I'm painting, I'm painting again.
I'm painting, I'm painting again.
I'm cleaning, I'm cleaning again.
I'm cleaning, I'm cleaning my brain.

Pretty soon now, I will be bitter.
Pretty soon now, will be a quitter.
Pretty soon now, I will be bitter.
You can't see it 'til it's finished.

I don't have to prove...that I am creative!
I don't have to prove...that I am creative!
All my pictures are confused
And now I'm going to take me to you.

bbbbut can you build bro?

You need to step back to the basics of what being an architect really means.. Screw trying to be a starchitect or designing 'cool' buildings.  Master the art of actual building before trying to push boundaries.

You had me at "boring".

Thanks anyone who read and replied. I pushed through it anyway. Just woke up from the party as Sir Apple Chrissy recommended.

"I hate my mediocre design" - I wish the firm i work for understood this. (about their designs)

I agree with one of the earlier responses in that it's a good thing to be a little self-critical, hopefully as a means of setting a standard to live up to each and every day. Still, it's no use getting so depressed about what you could have done better or differently while at school.  Within the longer context of an architectural career, schoolwork is a mere footnote, which most professionals would be eager to forget. After that first long and steady job following graduation,  no potential employer will care to look at your student portfolio. They will be evaluating you based on your on-the-job experience and your suitability to the project team. The attitude and temperament you portray to people around you will contribute much more to your career success than the quality of your work during the time when you were just learning the basics of the craft. Don't confuse the "good" with what's "new".  

Well, you say you can't do anything, for one thing, you can write, maybe you can work on that, along with your career in architecture of course, that's what i do too.

secondly, ou should consider the fact that maybe your have other issues, you can still be talented but you can't see it, or you can't access your creative mind for some reason, you should look into that.

i recently wrote a similar piece, but my issues came after graduation. I was inspired in school, and my artistic flair was on point.

after that, well, i was confronted sometimes with the harsh reality of "you keep creativity for architecture school and stick to boring", especially at the begening of my career.

Good luck, i wish you the very best in your career.

“Discontent is the first step towards progress” - fortune cookie 

I don't understand the obsession with students to always be the best in studio and present polished work to the nth degree. You're in school to learn to test the boundaries and there's nothing wrong with being mediocre and failing at it. Its how you demonstrate you're learning that actually matters and the more resourceful you are, the more recognition you get. What actually matters is how you produce the outcome rather than what it is that you presented. I've had many projects that were complete and utter failure from a design and polished project point of view, however still ended up getting top marks because of how the project is presented, lessons learned, process and demonstration of thinking. I literally had no renders for a final project and I knew I couldn't complete it despite it being a "requirement" but I knew that a drawing (a well drawn one) could convey so much more about the qualitative experience and iterative process than a polished rendering ever can. That's not to say that renderings don't matter, but every tool has its place. Be resourceful.

Me to a T at the moment. Nothing more than mediocre