I'd bet a few things will happen with this:
1) The nighttime show will be spectacular and loved by all
2) The fountain-hiding bit will run for maybe a year before being turned off
3) When the daytime fountains are turned off, they'll still leave the barges there. They're going to be a daytime eyesore for the next 20 years.
Why?
Pumping all of that water is expensive. There's power costs and maintenance costs. Imagine having to pump enough water to hide a McDonalds... Then multiply that by 5. That's expensive. The "daytime fountains" won't be around for long. Also note how well they keep up with the current fountains. If something stops working, it doesn't affect receipts so no need to fix it.
To me, this is going to be like just leaving the crane up year round because it's easier than not doing it.
All that being said, you'll eventually get use to it. People got use to cell towers. When they first popped up they were ugly and everywhere. I can't remember the last time I noticed one.