In terms of effects, this is probably the best night show Disney has done. It has projections, fireworks, lasers, fire, and everything else in between. However, the combination makes the show feel very busy. I would be watching the projections when I realized I just missed some great fireworks and vice versa. I prefer it to Wishes though it doesn't feel quite as classic or nearly as charming or heartfelt. It is comparatively superior but also much colder.
Now, my personal favorite night show is Rivers of Light. My main reason is that I'm getting very tired of the night show formula. It's always the same: a montage of Disney movies to that movie's music. It's effective and easy, but it gets old fast. I'm just craving more original subjects in Disney parks right now.