I don't speak for others, but I can tell you why I can't stand "Paint The Night." It's the music, mostly. It's the same generic, four-to-the-floor-style pop music that has dominated the FM airwaves for the better part of the 2010s. There's nothing unique or "Disney" about it. It feels super cold, over-produced, overhyped, and completely impersonal. The floats don't do much for me either; some of them are cool but generally I'm not impressed by computer screens. Hanging lights a certain way to make it look 3D is much more impressive to me. The "Disney's Electrical Parade" / "Disneyland presents Main Street Electrical Parade" logos on the DEP/MSEP bass drum are much more impressive and eye-catching to me than PTN's computerized logo on their bass drum. Not to mention its other excessive use of screens combined with rather generic lights.
Despite its age, I find the music for MSEP to be bouncy, memorable, happy, and unique. (Well..the 1970s version anyway! The 2001/2010 remake is OK.) I understand people can't stand the music for it, but I can't get it out of my head, much like "it's a small world." The way in which they mix the float music to the "Baroque Hoedown" underliner is genius. The floats might not be as technically impressive as SpectroMagic or PTN, but they feel more natural. Like they were created by a team of people whose primary goal was to make something cool. Paint the Night feels like it was "calculated carefully by committee" while aping from what came before it.
As for SpectroMagic - great parade! Not my favorite, but I did really enjoy it. I love the music for it, but I just don't think it was a good fit for a parade. It would have fit a grand fireworks show, or even something like Fantasmic instead. But I still like it much more than Paint The Night. They never should have let it rot away. Completely inexcusable and preventable.
I have a shirt that has the "dream it" quote credited to Tom Fitzgerald at the bottom. It always turns heads!