My thoughts: I don't care about an in-season trophy, and ultimately, the winner of the tournament is actually punished by having to play an extra game. Some of those court gimmicks were very hard on the eyes, and they posed an injury risk due to being overly slippery.
BUT... The players have seemingly bought in, and that's leading to more motivated basketball, which improves the quality of the viewing experience. And, when the players care, it makes the fans care, too.
Overall, I'd call it a success, and something that overall I have enjoyed to this point. I'm surprised by that.