I could see this possibly happening for our very specific situation.
First of all, we love MK at night, always have. Part of that, I guess, was because everybody else would go watch the parade & fireworks, and we would walk-on Pirates, Jungle Cruise, whatever else in that area. We have a lot of fun with that, and it doesn't work as well with EMH. (We hate getting "stuck in the ropes" at closing to get to transportation/our car in the parking lot.)
Second, we are only two adults, so the cost is not outrageous, and if the timeframe is approximatley 5 hours, that's plenty for us at MK, especially if it's not busy, especially at night. Since we typically skip a year between AP's, I was already considering a holiday party event as a temporary "fix." We can do either that or this, maybe stay on property, maybe tack on a day at DS, etc. and have a nice 2-3 day experience with just reduced park time.
The other side of things: I think we'd be bummed if no food places were open (even with the snacks available) or we'd just have to make sure we get a nice dinner at a resort before attending.
Also, if this costs $240 for both without AP's...and we can get FL resident Weekday AP's for about $265-ish(?) each, I have to consider going with AP's instead. The thing is, when we have AP's, every trip ends up being to WDW that year, and we'd like to get some other experiences into the rotation. So, spending that $240 (which, actually, I would have no problem covering with Chase Disney Visa points) gives us our little fix for the year without going overboard, and a more likely overall positive experience without crowds or heat (unless it rains LOL.)