Yes, there is no need to line up for the Hoop. Your table will be preassigned.
And actually there is no bus from the GF to FW. I suspect you've read reports of people not liking the bus that runs from the Outpost parking lot to the Settlement. There used to be a TTC bus to FW but it no longer runs if the MK is open. However, after the Hoop if the MK is closed, it does run. And if it happens to be running when the performance is over, that TTC bus will be the fastest way back to the GF. I think people get the two buses confused.
Anyway, on the way to the Hoop the best way to get there is the monorail to MK and the boat to FW as others have stated. If you want to be there at the suggested time, I would allow 40 minutes. You will probably make it faster than that but just in case you just miss a monorail and then a boat, that should give you enough time.
And you don't need tickets for the boat.
Have fun!