Honestly, about the only thing that is appealing about Pride festivals these days, at least for me, is the copious amounts of eye-candy of all genders (mostly two of them, but occasional splashes of the others, too!) on display in a rather fabulous fashion. There's nothing wrong with enjoying such sights, I think, but it would be nice if interacting with the people in question turned up more of a reaction than being treated as a houseplant.
Is Pagan Pride any different? I am not sure, as I've never been able to attend those events in my home state (they are rather far for someone who relies on public transport to attend, especially when it doesn't run on the weekends locally). But, as Paganism is something that we've all chosen rather than something we're born with (for the most part), I think it is more likely that it can be considered something in which to take pride. As Paganism in the U.S. has taken certain cues from the LGBTQ phenomenon—like International Pagan Coming Out Day—I hope that Pagan Pride events don't go down the same route that LGBTQ Pride events have done. Paganism, I suspect, will never be as commercialized, or as mainstreamed, as LGBTQ matters have been, and the Pagan Pride festivals will likely not reflect that, or at least I'd hope so.
But, the fabulousness of the eye candy is probably on equal par at this stage!