I was at DL for SW:GE opening (I got in June 1) and everything was orderly and under control. The people with the opening-day reservations were in line to get into the park fairly early but no one was camping out. To be quite honest, most people just hung around Disneyland or DCA until it was time for their reservation. People are given four-hour blocks to go to GE per the reservation and you must have a wristband, which we picked up and had scanned at Launch Bay. The biggest crowds are about 10-15 minutes before the next reservation period starts, when people were massing outside Critter Country, but DL staff started letting people trickle in to keep the crowd from becoming too thick.
The virtual queue is like Disneyland's MaxPass, which doesn't activate until you are in the park and the park has opened. (Unlikely that fastpasses will be available during this period, but that's a guess.) It's just the reservation system, but day-of instead of pre-booked.
Now, when the virtual queue is phased out, it will become a madhouse.