You'll have to canvas other septuagenarians in this forum.
I only can speak for this sub casual septuagenarian and spouse. The content of First Night didn't matter. My wife and I were stoked. For us it's the official start of the season. We got to see Gampel, the crowd of students, the band, the cheer and dance team, the alumni players and, most importantly of all, the players. With so many new players it was more special than ever. As the events were going on we kept on commenting how much we felt like teenagers again.
This doesn't mean that we preferred this format to the original midnight madness scrimmages that took place for the men and women's teams on separate nights. We don't. We just chose not to let the change ruin our excitement.
As an aside doesn't your first sentence count as a complaint? I recognize the distinguishing difference that you are not complaining about the event but the complainers of the event. It still adds to a list of complaints. You're too young to be cranky. Crankiness should be the purview of us old folks whether we're informed, casual, sub casual, bench warmers, end of bench warmers or water boy fans. So stay out of our territory young man.