No, but the entire forest area, leading up to the cottage, the magic mirror, the well-done AAs, they are more interactive and immersive than Disney had previously done, at least in it's US parks (I say this because I have no personal experience outside of the US parks).
No, though it does help with capacity, and the water is nice, but the fact that it exists in it's own Circus Themed mini-land sure is pretty immersive. The tent waiting area is more interactive than a queue had been previously. The new train station, water area, all of this placemaking is far beyond what had previously been done for any Dumbo attraction, or Fantasyland attraction.
The fact that it is a clone (of the inside ride experience, not of the entire attraction) has no bearing on it's quality. It is by leaps and bounds the best, most immersive Fantasyland-style dark ride (again, knowingly speaking only of US parks because YouTube is not equivalent, so I have no experience based facts to judge against). The entire area surrounding it is both immersive and interactive as well. Interactive queue elements, fully immersed in the story of Little Mermaid from the moment you walk to the area.
Of course, this doesn't count the interesting (and short) mix of family coaster with dark-ride elements that add another entire element to Fantasyland.
In my opinion, the claims they made were a bit overhyped for what ended up, but not massively so. My personal expectations going into New Fanstasyland were met quite well. Yours seemingly where not. Either way I dont blaim(?) anything on setting massively unrealized expectations. They added a large footprint of enjoyable attractions, dining, shopping, and place-making to Fantasyland. They did so in immersive and interactive ways, much more so than what existed in Fantasyland previously.
I realize that there is a large group of people that did not like New Fantasyland because of personal reasons, they don't have young children, they wanted a longer roller-coaster, they like what Comcast did up the street better. That is fine, opinions are ok. But to say that they didn't deliver anything to back feels very incorrect to me.