You said your own keyword in your response...the buzz has been going on around HERE. We are a very specific group of people that go to the park, and are much different than the common park person. I do think crowds will be high during the first few months, especially since this will be marketed as "new". However, after the initial wave passes, I think that the crowds will be much more manageable and not be stretching back to the rose garden on a regular basis. I do also think that this will have longer waits than HISTA, but it won't be the reason people plan trips to WDW.
And a large number of the AP holders don't neccesarily make a trip to the park for an attraction, but they add a considerable amount of people to the daily tourist.