Went yesterday and while I appreciate the sentiment and effort, not the kind of thing that would motivate me to visit again.
The floats lose their grandeur without the forced perspective that comes from the parade route and the dusk lighting and the music and the fire/smoke/confetti effects. Just kind of sit there, generally only staffed on one side. There are actors onboard tossing beads to kids, and doing their best, but obviously not as much fun as the stilt-walkers and face-to-face interaction we'd usually see. Staffing also seems off in places (could be opening day glitches). One dancer had the entire stage across from HMU to herself--it looked like a different kind of entertainment venue. Other performers stuck on two pedestals on either side of the snack trailer by Ben & Jerry's--they looked uncomfortably cramped.
As for the food booths, you can tell the food festival aspect was a last-minute audible. The ones near the Boneyard look great, highly themed, but serve full meals, which isn't ideal for sampling. The smaller booths offer "sample-size" portions (by Food & Wine pricing standards), but they are stuck in the most random spots, often with no queue space, and usually minimal theming.
I know money is the key, but the lack of live music feels like a missed opportunity as well. Putting two NOLA bands in rotation on the Boneyard stage would add so much to the atmosphere (and given musicians some much needed work). Much like EPCOT, without live entertainment this feels more like a glorified mall food court, or maybe more accurately the boring side of a Ren Faire where all the vendors are.
End of day, mildly interesting dishes, but nothing to recommend going here if you weren't planning to already.