LND has some beautiful music in it. One critic (I've forgotten whom) loved ALW's use of waltzes. "Till I Hear You Sing" is a lovely song, and pales only in comparison to the song it emulates, "Music of the Night."
The book, based on Frederick Forsyth's sequel, "The Phantom of Manhattan," does not make much sense, in my opinion. Although POTO's stage version does not set out Madame Giry as a mother figure to Christine, there is no hostility between them. Also, Raoul never showed signs of being a cad -- only of being overbearing. I think the gambling addiction that caused him to lose his fortune was simply too much -- merely making him an alcoholic would have sufficed.
The time line is as garbled as the one in "The Pirates of Penzance;" Gustave's age is definitely messed up -- he should have been about 9 and 1/2 years old, and not 10. However, I did not interpret "Beneath the Moonless Sky" as taking place the night before Christine's and Raoul's wedding. A few weeks could still have been "just before" and would have provided Christine with the ability to figure out which of the two men was the father.
I don't see Christine's decision to find the Phantom and consummate their relationship to be unrealistic. I've seen the 2004 movie countless times, and the stage musical, I think, nine times. This last time, I realized that Raoul expresses his love for Christine, but she never tells Raoul she loves him. The way Norm Lewis and Sierra Boggess (and Norm Lewis and Mary Michael Patterson) play their roles, Christine makes clear how attracted she is to the Phantom. A liaison would therefore have been possible.
I agree that implying that the Phantom raped Christine in the final lair scene would sound the death knell for the show because rape is an unacceptable act for a character with whom the audience is supposed to sympathize. OTOH, consummating the relationship after MOTN would have made sense, except that the stage version says that six months elapsed from Christine's debut to the New Years Eve gala, and a few months would have been necessary to rehearse the Phantom's opera. As a result, a later assignation was the only way to move the story forward.
Here's how I think LND would have made more sense: Raoul, an alcoholic or a wonderful husband who is jealous of the Phantom (either would work), deep down is suspicious that Gustave isn't his. That would explain his hostility to the child. There was no need for Meg, who was already in love with the Phantom at the end of POTO, to have worked to raise money. Instead, the Phantom would probably have had funds secreted all over the world. Rather than have Meg go nuts, her mother could go nuts and decide to kill Christine. Meg can rush forward to save her and wrestle with Mme Giry for the gun, which goes off and kills the Phantom instead of the character who is killed. In my version, Christine would cradle the Phantom as he dies, but when Raoul walks in, she gets up and runs to Raoul. They walk out with Gustave, with Christine looking back. Meg would then hold the Phantom's head in her lap, take off his mask, and kiss him. The show would end with Meg holding the mask on stage with the dead Phantom, and she could sing "It's over now, the Music of the Night," followed by the orchestra's playing the same few notes that end POTO. That would draw a parallel between the ending of the two shows.
All of this is, of course, wishful thinking -- ALW gets the chance to end the show his way, and I have to be content to write "phanphic." At least, in the phanphic world, I get to create a happy ending.
Audrey, the Phantom Phanatic, who nonetheless would rather be Jean Valjean, who knew how to make lemonade out of lemons.