Watched it Saturday night, after mostly avoiding "spoilers" online.
It's ... fine? The Moana and Coco floats are stand-outs. Also pleasantly surprised by the return of "Baroque Hoedown" at the end. Didn't really love the "coming attractions"-like video on the Encanto and Frozen floats, felt like belonged in a lesser park in contrast with the beautiful lights on the other units. Complaints about it being short are grounded -- wife and I agreed it felt about two floats too short. Seemed like fewer foot units than a typical parade, but 10 deep it's hard to notice. Floats tall enough that even the little kids 10 people back were enjoying it, which is a plus.
That said, MSUSA/Hub were announced as "closed" at 8:45. Buy 9:55, the entire route was announced as "closed" (I saw no attempt to actually enforce this in Frontierland). Parade arrived at Diamond Horseshoe around 9:20, we made out way out immediately after, stopping off in Emporium. By 9:50, MSUSA was as dead as I can remember it for fireworks. Plenty of viewing space left. And the monorail line didn't even stretch down the ramp. All I can figure is every single guest in that park watched the parade, and the majority of them hightailed it out of there after as soon as they could. I'm not sure this is the magic bullet that's going to save WDW's obviously soft numbers lately.
Interesting corporate politics observation: the 1960s - 1980s are completely ignored. And the Eisner Renaissance is played down (B&tB and Aladdin are relegated to cameos, no Mermaid, Lion King, Tarzan...).