Sure, it may be just fine, though I believe part of the Seaport area, where the farmers' market was located, is being converted to office space. The other end near the Cunard Centre might be able to host events, and then there's the Alderney Landing area on the Dartmouth side.
I agree that the layout of the waterfront area should encourage day-to-day use as well as special events, but I also recognize the potential for conflict and complaints when a space that was mostly open to the public becomes chipped away by private residences. Kinda like the people who build a house next to a pig farm, and then petition to have the farm shut down because they don't like the smell of pig poop. An extreme example, I suppose...
Maybe it won't be much of a loss, as these events could just move elsewhere (like Dartmouth Crossing or some suburban mall parking lot?), but it always felt like being in a special part of Halifax when you could enjoy a special event while looking over the harbour.
Not a big deal, though, as change will always continue to occur. Fifty or sixty years ago, it was still a working waterfront with a lot of industrial and marine-based businesses operating - not a place to go for an evening stroll. Forty years ago it was a stripped out desolate area dominated by surface parking and empty lots. Today it is much better and continuing to evolve, though I still think it's important to recognize the changes.