In terms of the actual, physical content of the ride scenes, it looks like Disney did a great job. Fundamentally uses the same approach as Splash. Lots of AAs and figures. That's all very good.
The ride narrative, as some of us suspected, doesn't quite feel satisfying because there's no tonal variation (read: tension) related to the drop (or anything else). I also think all the songs sound kind of interchangeable (as they're arranged and presented in the ride), which is not something I'd have ever said about the soundtrack for Splash.