Everyone is just speculating and guessing, and making outlandish claims to generate further outrage. The fact is this is an additional event after hours, it starts at 11pm and runs until 2am, and each night it is running on the park was already scheduled to close at 11pm.
I don't understand the outrage. If you think it's too much or don't find value, don't go. It's not cutting into your park time, it's an extra. Don't be mad because maybe you can't afford it. I'm not going to do it, because I can't justify the price (more than $200 per person after the currency exchange), but I'm not mad that Disney is offering this EXTRA (because I notice some people like to use caps to really emphasize on here) for people who can afford it or do see value.