I have been a long naysayer and halfway supporter of the new MagicBands and FastPass+ but I have to eat my words. The system today is outstanding and works amazingly well.
With the recent update to allow real time additions to Fast Pass from the app, this is the perfect system.
We planned our trip only ~3 weeks in advance and were able to plan our 3 Fast Passes for everything we wanted pretty easily. New times are constantly opening up if you weren't able to get the most popular attractions like 7DMT, Toy Story, etc.
As many of you know, if you finish your 3 planned Fast Pass early in the day, you have the ability to get one at a time at any park as long as there is availability. From our experience (granted it was late April) there was always something we wanted to do. We must have used 8-10 Fast Passes per day and never waited anymore than 10 minutes in any line. The game changer is that you can do it from the app and get any ride, anywhere on property. No more running to the ride.
It's not just good for Fast Pass. The system seems completely stable, fast, and error-free. Park entry is WAY faster now. We had 0 issues the entire time. It worked every time with our meal plan, flawlessly. It seems quicker than ever before. The app is awesome. Tap to pay is awesome.
Disney is definitely going to get the data they want, which is the real goal. I'm fine with that. They can track everything: your habits, spending behavior, length of time spent in different areas, etc. It's limitless. They even integrate your name on rides like Small World and Haunted Mansion, giving you a personal touch.
I'm not sure it was worth billions, but I see this as only the beginning. They've basically fixed the waiting in line issues (although I haven't tried this at peak times at WDW). The convenience factor is awesome. This integrated system for paying, meal plan, fast pass, room entry, etc and seeing everything real time on the app is a game changer.
I'd like to see them add meal plan allotments somewhere on the app. I'm sure there are a ton of enhancements coming and I'm looking forward to it.