Show reminds me most of Braviseamo (thank you, one tokyo-goer) - suffers the same problem as Braviseamo and even the new Fantasmic at TDS can't overcome. The show is too small, and the lagoon is too large. Or the lagoon is too large, and the show feels small in it.
It suffers from scale problems, basically. Too few elements. Too much empty space between too few elements. Too much distance from the too few elements to the audience. I'm kinda scratching my head on why they put the water screens so far back. They already put them too far back in World of Color and should have learned. This feels much further. Perhaps bring them forward to shrink the performance area, make it feel less empty? This would also reduce throw height of the water, resulting in a clearer image.
The show didn't know conceptually what it wanted to be. Too many chefs. One chef wanted more of a light and projection show - WOC style. One chef wanted more of a water parade. They tried to combine them (a fine and legit idea) but didn't seem to have the resources to do either justice. The light and projection parts don't seem to be enough to sustain its own show (WOC suffers from this as well). And the water pageant potential is essentially wasted. The movement of the boat floats is poor throughout, with what seems like really inelegant, almost non-existent choreography (maybe its cause they move too slow?).
The show is in the same tone the whole way through. Monotonous. Get some more musical movements in there (think Beethovan symphonies). I think more should have been done with the shadow puppet idea. Fog would go a long way in filling the negative space and float a seemingly soft, luminous color across the entire "stage". More animal floats, and the animals on them definitely need movement (animatronic animation) to complement the lighting effects. Show definitely needs to make more things come alive.
There's a seed of a show and I'm just putting trying to put in some constructive suggestions. There's a theme, which is more than can be said for a lot of nighttime shows (WOC, for instance, mostly goes in for spectacle and sensation). It's not "Universal Cinematic Spectacular" which is unsalvageable.