For us old folks who remember a time before the hat, that "Wow!" moment was the Chinese theater.

I love the hat, I've just never liked it blocking the Great Movie Ride. I wish they were just moving it, not getting rid of it completely. It was so pretty at night!
Honestly though, I don't think the entrance view is going to last for long. My gut feeling is that open area left by the removal of the hat is going to become a big stage/performance space. Kinda like what's been set up in front of the hat for a while now, but maybe bigger and more permanent.
Side note: You're going to LOVE that cupcake from Starring Rolls! It's a must-do for me every trip! HS day is cupcake-for-breakfast-day for me!!