I looked up the park hopper prices from last summer....6 day park hopper plus would have cost $318 (or so)...it included 3 plus options, no Disney Quest as an option. The 6 day MYW pass...no expir./hopping is $332 (advance price). This includes 4 options vs. the 3 on the PHP and it includes DQ as one of the options. So, yes..it does cost a little more but you are getting more for your money...especially if you want to do DQ.
I do like the different options they offer. Sometimes I am not going to need those plus options but I am going to need a 5 day pass. That wasn't an option with the park hoppers. Sometimes I need to have the non-expir. feature, others I won't. I can build them as I need to for each trip.