Am I the only one who wouldn't be upset if there wasn't a show?
If you go to Disneyland and walk down Main Street, it's the biggest treat when you see the castle and realize you can actually go THROUGH it. And it's amazing how many guests do just that.
It's a very satisfying experience, the castle becomes not just an object at the end of the street, but a portal to another land. It also lets that entrance to Fantasyland actually be useable throughout the whole day, which is very useful from the standpoint of navigating the park.
If Magic Kingdom wants to put on shows, they should do like Disneyland and build a theater (instead of tearing them down…)