The woof part? The "good" part? Sure, that's just my opinion. I have no interest in shouting down anyone who feels otherwise.
The relation between the old design and the new? That's a little more objective - the only meaningful design elements I see in the pictures above that relate to the architecture of Sleeping Beauty Castle are the mansard roofs and their shingles, the flying buttresses (which demonstrate no reasonable application of their function), and . . . the fact that the main tower has a central stained glass window, I guess? Outside of that, everything else looks just as tacked on as it actually is and creates no illusion that the building is a complete whole and was designed this way from the beginning. Which, maybe is the point? But what a weird, convoluted point for your central icon, especially since it impacts its visual appeal.
There doesn't appear to be any real architectural grounding here, unlike Paris which is highly fantastical while still appearing plausible. Castles in the real world don't look like Le Chateau, but Le Chateau balances that out wisely by appearing to be built the way real castles are built. The Mulan tower on this castle is pure ornament - what are we supposed to believe is in there? There are no windows, no doors, no balconies . . . it's a tower for the sake of putting a tower on a fake castle, not one that puts forth the idea that not only does this place look cool but things HAPPEN there. The elements appear cherry-picked from a list of what makes a cool castle but assembled with no discernible logic. It's a ransom note of architectural features put together by someone who doesn't seem to know how to spell.
For as weird as Shanghai's Castle is (and I think it is - those proportions are booonkers), it at least avoids the trap of featuring elements that don't look like they could be practical.
I'm not saying anyone can't love it - lord knows there are a good many things in this world that I love that either don't make sense or aren't objectively "good" . . . but given the generally high standard of design for Disney Castles this one seems to reject every lesson in the book in favor of something that doesn't offer as strong a notion of what a Disney Castle could be. All built on the back of what is the most iconic and charming of all Disney Castles. What a weird thing to choose to clash with.