As a person who's invested a lot of time and money into EU (comics, video games, books, toys) that is now under the "Legends" heading, I'm glad it's gone. It was suffering under its own weight: a great deal of the stories were awful, there were hundreds of horrible retcons, ruined characters, stupid decisions, and inane self-referential tongue-in-cheek -isms. It was a bloated, overgrown and ceased to capture the feel of Star Wars.

I'm incredibly excited to see new stories being written under a clear and controlled timeline with minimal stupid retconning. I can't wait to see fresh new faces and characters who can interact with our old friends in new adventures; and hey, if you don't like the new stories, keep enjoying the old ones.

People have to remember that this is an imaginary world and while something may not be the "official" canon, you have the ultimate say in what is canon in your Star Wars galaxy. It also bears to keep in mind that good ideas in Legends can always pop into this new EU; I can't count the number of EU things Dave Filoni canonized (or at least nodded to) during The Clone Wars, and I wouldn't expect that to change now.