I would say no, even while I don't live in Sydney or Australia at all.
The Sydney fireworks are the best of the world, even surpassing Dubai on the Burj Khalifa, and I like such fireworks displays very well.
But in this case, with all the wildfires in NSW, drought, fire danger, total fire ban and firemen are working in arduous circumstances, I would say, no. And sydney is close to the largest fires. Moreover the smoke and haze will degrade the visibility of the event.
And then the Sydney council says "it will yield $132 million", just tells that only money prevails.
Other cities in NSW (e,g, Parramatta) did cancel the event.
It is a spectacular event already being prepared every year the past 20 years by the Italian Foti company, but the million dollar setup can be postponed to NYE 2021.
https://www.smh.com.au/national/how-...09-p53ibb.html
I voted the 'for / against' poll in the SMH and 61% was for proceeding and 39% against.