I was on vacation the last two weeks and not paying attention to anything Disney-related, so I'm late to this discussion, but as a former FlexPass holder with school-age kids, the Enchant Key blockout calendar is kind of a gut punch.
I understand that the big downside, and the reason for the reduced cost of the FlexPass, was the need to make reservations for many days, which offset the reduced blockout days, and that disadvantage disappears when even the highest level passes need reservation, but as someone from Northern California that can take weekend trips, I would much prefer a pass with a reduced number of allowable reservations and a less restrictive blockout calendar (with less than 70% of Saturdays being blocked out). But I'm guessing their surveys found that most people thought the two-day max reservations for FlexPass weren't sufficient to make the pass attractive to out-of-area residents and that having Sundays available was sufficient to make it attractive to those who are more local.
I also feel a bit bamboozled having bought the California Resident Tickets only to have this program announced in advance of our September trip (I assumed, as I think many others did, that a new program would be announced after the end of the California Resident Ticket promotion and we were set on going for my daughter's September birthday). I think it's a big stab in the eye to sell people tickets and not allow the face value or even some reduced value to be applied toward an upgrade. Luckily I bought my tickets through aRes travel with the added refund protection (thinking more about COVID at the time than passholder implications), so I was able to refund the California Resident Tickets and re-buy regular 3-day PH tickets that we'll be able to apply to an upgrade.
With all of my dissatisfaction, we're still going to upgrade to the Enchant Key. Even with the broad blockout dates, our next two planned trips (in September and February) are for non-blockout weekends and the total cost of tickets for those two trips ($284 for the 3-day resident ticket and $340 for the regular three-day tickets through aRes) almost equal the cost of the Enchant Key, Since we can pay the upgrade cost with discount gift cards from Target, it's almost a wash, so as long as we can get one more trip in during the course of the year, it makes sense to go for the pass.