Eh, sort of.
While you're right that the park's orientation was the core issue (due to sharing an entrance plaza with DL), the problem was that the Sun Icon faced directly to the north and would always be in the shade. While that's not a complete dealbreaker for a park centerpiece (TDL's castle faces mostly north), it wouldn't be a good look for something that's supposed to represent a bright, shining sun.
The heliostats were actually a pretty ingenious solution for a constrained centerpiece that was meant to celebrate the California sunshine. They were programed to track the sun's location throughout the day and changing seasons, and reflect it onto the Sun Icon. In addition to changing their angle, the flower-like design was also able to open and close slightly, allowing the light to focus more as needed.
The Sun Icon itself was never really meant to reflect the sun, only to be illuminated by the reflections from the heliostats.
Sure, they often had issues that left them stationary for months on end, but when they worked it was a pretty neat effect. It was a solid surface backlit by the real sun that seemed to have an inexplicable reflective glow about it, in a way that couldn't be recreated with artificial lights during daylight. And although the heliostats were visible, they were hidden in plain sight among the palm trees and didn't resemble anything recognizable, so there was no obvious source of the light to park guests.
It was a simple yet complex solution, mixing modern technology with tricks that were thousands of years old in a way that uniquely celebrated the state's climate. For such a relatively-inexpensive centerpiece in a budget-conscious park, it was a clever way to add an atmosphere of reverence and grandeur, reminiscent of the glow designed for religious icons in historic cathedrals.
IMO, the most ironic part of the whole thing was all the early publicity about how the Sun Icon was created from cutting-edge metals that were specially designed to avoid corrosion for over 1,000 years. And yet, the whole thing was ripped out of the park less than 10 years after it opened, rendering their expensive materials moot.