When are you going? You can do Fantasmic for free. It's a n attraction at the parks. The only thing you are paying for is a meal and reserved seating - so you can arrive 15 minutes before the show instead of waiting in line. I'v heard that this is very worth it at peak times, but not so necessary at slower times.
Fantasmic is a cool water - lights - fireworks type of show. Very unique and enjoyable. The Hoop Dee Doo is a song, joke and dance routine type of show. I loved it at age 10. Depends what you are into...
So basically, when are you going and who is in your party (ages of kids, etc.)? That would influednce my answer.
I would probably do the Hoop Dee Doo and go see Fantasmic for free, without the package if I had to choose one. But, if money is not a factor, I would do both. If timeis a factor and you must choose one, I would probably choose Fantasmic just because it is very Disney (musics, characters, Mickey, etc...) where the Hoop Dee Doo seems like a song and dance show that coudl be anywhere...
HOpe that helps a bit...