Think about it, people pay $275 to go on a boat for Illuminations and it is for a lot less time than in a park.
You're right, but you don't pay $275 per person to do an Illuminations cruise. And yes people also pay to do the Chef's Table at V&A but again they don't pay $300 per person.
There are alot of high end things from dinners, to tours, to hotel rooms, people can partake of while on a vacation at Disney. But an AP pass gets you unlimited visits to the parks for about the same price.
I think the long term problem with a park like this is that Disney is forgetting that your average person has to balance their expenses no matter how well off they are. For example, One night at a deluxe hotel v. one person, one night at Night Kingdom. Essentially admission for one person equals an entire family staying the night at a deluxe resort. Thats an awfully large sacrifice. It will be difficult for a lot of people to seriously consider sacrificing certain aspects of a vacation in order to spend half a day at a small theme park (or whatever it is) with no rides. A family of four would spend $1200 more or less for one night at NK v. 4 nights at a deluxe hotel.
If Disney wants to cater to such a high end crowd they are free to do so of course. But it seems to me that a new park is extremely costly and quite risky when you are catering to such a niche crowd.
I may be wrong given that Discovery Cove is still around all these years later. But DC also has two price levels, one with a dolphin encounter and one without and its quite significant a difference. DC is also feels like a much longer experience given that you arrive in the morning and stay till the end of the afternoon. I'm also sure that DC has to be less expensive to run than the Jim Hill described Night Kingdom.
My hope is that Night Kingdom is merely AK at night. But the idea of Disney investing so much capital in a new mini park scares me a bit, especially in light of the fact money needs to be spent to shore up each of the parks especially once Harry Potter comes to town. I don't foresee people making special trips solely for Night Kingdom, unless its something extraordinary. And frankly nothing i've heard is that exciting.
I think I belong to that segment of the population Disney would want to attract to this park - young urban professional with disposable income (see todays Jim Hill article). When I visit WDW, I make a point of visiting various sit down restaurants CG, Narco., AP, FF, etc. and I try to stay at Deluxe resorts or split my stay up between moderates and deluxe. But in order for me to shell out $300 for myself and an additional $300 for my significant other, my whole vacation would need to change. And although I'm more flexible about this kind of stuff, I can tell you many of my co-workers and friends who never opt to stay at a value resort. Unfortunately, this whole idea sounds too much like a revised version of the Disney Institute. And we all know how that worked out. It was such an ill thought out idea that ignored the basic reasons why families visit WDW.
However, I have alot of confidence in the Disney Imagineers and hopefully this is an idea that has been fleshed out by them and not Disney accountants.