That nighttime parade certainly WAS needed. It added that touch of magic that is required in every Disney park. Disney's claim to fame in the theme park industry is not that they own the IP or that they have the best rides. It's the magic and everything that encompasses.
Fireworks are only one small part of it. Now days you need to stand in the crowds in front of the castle to even understand the show.
Cast Members make up about 50% of the magical atmosphere, be it the everyday cashier who takes the stress out of the crowded store situation, the person making your frappuccino who adds mickey ears to your name on the cup, or the person emptying the trash cans who stops to make sure a crying child or elderly guest holding arm is okay. Reducing positive human interaction is a bad move in itself and worthy of a whole other thread.
The parade was music, lights, interaction and just pure happiness that felt like it should be bottled to take home. The park has felt empty since it left - It needs to be be returned.