Now, that's been tried before. Disney won't try to do the same stupid thing. They will at least come up with some new stupid idea. (Does no one remember Ryan Air's attempt to do this in 2010?)
This is one of my bigger concerns. You do not get "instant" access. You get "the next available window". If at 10am on
Genie+ I want to ride Peter Pan and I get a "come back at 4pm", that's going to be a problem. Even worse since I can't then ride something else until after that. To make this work, my window is going to have to be in the next 20 minutes or so, which means it will have to be a limited number of people buying it. Unless they limit the number of Genie+ tickets, this could be a problem. If they do limit it, we are back to "better be prepared to buy it within the first 0.000000000001 seconds of it going on sale".
Fact: this is nothing more than an opinion.
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For me personally, I think the devil is in the details. I will have to see how it pans out. One of the things I do not like compared to FP+ is that with FP+ I was at least guaranteed 60 days in advance to experience my rides of choice (minus a disaster on the ride in question). Plus, planning my WDW trips was half the fun for me. With Genie+, it may tell me that I will get on Peter Pan at 2pm, but day off, that could all change. If I could lock in the plan and keep it, that would work for me as an option.
Also, as mentioned before, I think a lot depends on how many people pay. If too many people pay for it, it will be a problem.
But overall, I like the possibilities and think it's going to be a more positive experience (I am ever the optimist).