I'll get to see it in person soon, but here are my hot takes:
Better than Holiday Wishes, but significantly not as good as HEA.
"Simply Having a Wonderful Christmas Time" has got to be one of the most uninspired Christmas songs ever, both melodically and lyrically. Actually, it's more than uninspiring, its dispiriting. The saving grace is that it wasn't used a lot and it wasn't the horribly orchestrated or horribly sung McCartney version.
And that brings me to the other musical choices: One, they were all orchestrated in too high of a register. C'mon Disney. Buy a bassoon or two. It was just constant shrillness of instruments being played near the top of their registers where the sound is thin and strained. The Frozen song at the end was a nice change from that barrage of "play it higher!"
And two, it was all over the place. If you had Santa Claus songs, then put them together in a Santa section with appropriate visuals and fireworks. If Minnie is going to introduce a section on being with friends, then there should have been all the togetherness-for-the-holidays songs in one section. For HEA, the spoken word introductions properly introduced distinct sections with coherent themes. This was all over the place.
Speaking of all over the place, the mapped projections had some spectacular moments... and then ruined it with old-school Flash-type animation. Same with the fireworks... some spectacular moments, and then a lot of haphazard shots not matching the music or the projections.
This had the workings of being top notch, but, I fear that now that it's done, WDW will just let it sit in mediocrity and do nothing to punch up its shortcomings.