Oh I understand why the town would like the concept and yep, you need some way to keep a small town's economy alive. I'm just too much of an anti social old killjoy to find anything good to think about it beyond the bucks. Reality is though that lots of folks like these kind of festivals and to every one their own. Lets face it, I'd rather have the mongol hordes Pirate and Wenching than wanting to drop anchor in some nice quite little cove.
Sydney Harbour is renowned for its NewYear fireworks. The harbour is wall to wall boats, biggest night of the year. We found an anchorage from which you cannot see the fireworks. Perfect NewYear for the anti social. Empty anchorage.