The flat stacked floors of the redesign trades this vertical space for lateral sightlines and cross-ventilation, at least on the lower level.
The glass curtain walls on the upper floors should provide equally impressive views of the waterfront and the Brooklyn Bridge, whereas the red shed Pier 17 blocked its interior from the surrounding waterfront environment.
The only hazard SHoP's trade-off of vertical for horizontal space seems to pose is that if placement of interior structures on the lower level or walls on the upper levels becomes too aggressive, and Pier 17 loses its openness on both the vertical and horizontal planes.