If eliminating EMH paved the way for the return of the old E-Ride nights ...than I support it.
For anyone unfamiliar with the old E-Ride nights (I believe they had them from around 1997-2004), it was sort of like a hard ticket party. However, it was only open to WDW resort guests (similar to EMH) who had multi-day tickets. You paid $10 (later raised to $12) per person and got to stay in the MK for a few hours after closing. There was a limit on the tickets sold,and I'm sure it was much lower then the amount of tickets they sell for the Hallowen & Christams parties - some reports said the limit was 5,000. They didn't have every ride open (Adventureland and Fantasyland rides were usually not open), but most of the remaining headliners were open. Pretty much all of Tomorrowland & Fronteirland were open. We would ride each of the 3 mountains, Haunted Mansion, and others multiple times in a row without ever getting off.
All that said, I believe if they did bring back the E-ride nights it would probably be very different than it was originally. They'll probably charge $40-$50. The limit on tickets sold would probably be 20,000 (or more), and the number of attractions open would be even fewer.