That's just it - back when these would have been MK's normal closing hours, there were few lines at the end of the night to begin with. So basically they are recognizing that people don't want to just go sit in their hotel rooms at 7PM on vacation, nor are they all going to flock to DTD night after night (or whatever the heck we are calling the big outdoor mall these days), but just charging for a full-day experience for it.
When you break it down, there is only so much you can do in 3 hours, even with virtually walk-on rides. You still have to walk between them, down the long queues, and wherever they can they will be reducing the number or ride vehicles and staff as much as possible. And don't forget, you have to take time to stop and get that "free" soda, ice cream, and popcorn - likely all in at least two separate lines, probably longer than the attractions. And unless you are going to scarf them together, you'd probably have two such stops, and then eat, and then at least once probably stop for a bathroom break. It's really not very long, just when you consider the logistics of it.
We could sit all day and come up with "best case" scenarios, but of course most people won't have the "best case" experience. I think the reason that some of us are either just shocked or find this almost offensive, but I think it's mostly about worry about what is to come. Even when you compare like to like, the "value" of this ticket is astronomical. Even the 5-hour MK Christmas and Halloween parties are still under a hundred bucks, and have more entertainment (if much less than they used to). A few less attractions, but most the major ones that have long wait times folks want to avoid with a ticket like that are open.
If you look at
historic ticket prices for special events like this, and consider how the prices have spiked in the last few years while the benefits and features declining, when you look at the fact that this is an EMH night with some free cheap snacks, it makes one worry how far they are going to go - and where that bubble will burst.