This seems to be a good use of the technology. From a coaster perspective, it's nothing all that innovative. (It's utilizing existing Vekoma tech from the flying coaster, tilt coaster and hang and bang, though in a fun, creative way.) And, we've had elevator-style lifts for years on various rides (including even in Orlando at Sea World and Tampa at Busch Gardens). But, I think it will be very good for the general Disney GP, who don't necessarily have that exposure or knowledge of what's out there. I also think the externally-facing seats on longer trains will reduce some of the anxiety elevator lifts can create. I do think this will come down mostly to set dressing. Vekoma suspended family coasters aren't very thrilling or long. And, the elevator lift will knock out what is often a decent amount of their ride length (the lift). So, visuals and an immersive environment is going to be key here. Layers of movement with both physical sets and well done background screens is key. If they FEA/Tiana this (or even Tron it), I don't think it will be that successful.
I still very much hate they are just ditching MuppetVision 3D for this. But, I like the idea overall - if they put the budget into the environment.