Anything free is fine by me, but in my opinion, this year's Moonlight Magic event was much more disappointing than last year's. Opening the whole park was an exciting proposition (last year only Tomorrowland, Fantasyland, and Haunted Mansion were opened), but it allowed A LOT more people into the park than last year due to the increased capacity. Crowd-wise it "felt" like a normal night around the park. At 11:45, Haunted Mansion was logging a 30 minute wait, Winnie the Pooh was at 25, Peter Pan was at 30, and Mine Train was at 45 (as examples).
Lines for the characters were huge (if that's your thing -- it's not ours, so it didn't bother us, but if you were interested, they were LONG waits). The fireworks were pretty great (I don't think they were as good as last year, but they were still pretty fantastic.)
Some people may love the notion of hot dogs and chicken nuggets at 10pm, but for us, we missed the tables set up at various locations throughout the park with chips (more than one chip option, too), ice cream (which was awesome), and drinks (both hot and cold). I understand from a budgetary standpoint it may actually be cheaper to man seven counter service locations and only serve hot dogs, chicken tenders, apples, chips, cookies, and carrots/celery instead of ice cream which has a much higher cost point, but I just missed the ice cream which was such a special treat!
And that word "special" is the difference between last year and this year. Listen, the event was free and it was fine. It's difficult to really complain because they didn't have to do this at all. But, last year's even felt "special" -- it was like you were invited to an exclusive event. This year felt like just another night in the park.