I don't see it either.
They took it away for a reason:
Either they have a replacement in mind (and if so, why take it away before the replacment is ready)
OR
Just simply cost-cutting (this seems more likely). Think of all the actors/dancers they are no longer paying, the upkeep of the floats and not needing as many CMs to do crowd control before and during the parade.
Frankly, with the crowds, parades just cause a crowd-control nightmare, especially at night. I always hated parade time (if i wasn't interested in watching) .. it just made it a nightmare to get around or even LEAVE the park.
I can see them just not having one, leaving the new fireworks show be enough nighttime entertainment.
Is it needed anymore? I always thought it was odd to have a parade, followed up by fireworks .. and then sometimes a parade again.