Yes, unless it’s not busy this is the route they ask people to take for the first showing. Typically you can go toward Fantasyland after the second showing.
Since it’s miserably crowded after the fireworks (which we watch from Rivera of America), we kill time by doing an attraction (Tiana’s, Poo, RoR depending on wait) or hanging out in SWGE (plenty of tables to enjoy a drink or a quiet beach to relax for a momen). After a 1/2 hour, everything is back to normal.
If you watch the ;second showing) parade by IASM, you can get a great spot - even front row sometimes - even after the parade has started coming by. No hurry like Main Street. They haven’t put up ropes for crowd control i(second showing) since Memorial Day.