And if you've already bought day admission, what value does that extra 2 hours give you?
I'm sure that's a typo (a real one! ), but for the sake of factuality... 3 hours.
For me, personally, I like the After Hours. Pay even more for (nearly) no lines and crowds? Yes, that's worth it to me. Especially to be in the parks in the cool of the evening.
But the Villains addition isn't worth it to me. I'd pay more for ride access and not waiting. I really don't want to pay more for that extra entertainment that's doesn't seem so entertaining. They're bundling a good value (IMO) of the After Hours with a poor value (IMO) of the Villains and makes it less valuable to me, not more.
Now, if they paired it with Club Villain...