Of course it only works if you stay until closing lol! Of course not everyone like to stay until closing, especially if you have young kids, etc. BUT, thats the beauty of it for the rest of us . And yeah there are a lot people who dont realize as long as you get in line one minute before park closing, even if its 2 hours long, you still can ride! I'm a TDR vetern and sometimes its the only way to do some of those rides because the lines can be crazy all day!
So yeah, its definitely a nice plus and in an odd way you can think of it as an extra hour in the parks if you get in a REALLY long one at that time. But yeah, the BEST time for me to go to DL is the last 2 hours of the night because most will have cleared out, everything is all lit up and the average wait, even on a really busy day is 20 mins or less for most rides. Stuff like HM, JC and POTC is 5-10 min waits even on super busy days by then. Splash is a complete walk on by 9 usually, regardless of season (woosey Californians). And any ride that is still 40 mins or over by the end of the night and you still got stamina, just jump in just before midnite! I plan to do that with ST as well!