Well, that's a real downer.
So the Hollywood is more symbolic than anything else. Of course, the Sorcerer's Hat blocking the Chinese Theater kind of detracts from that, but a reactive FAQ distributed to cast members to provide answers to questions from guests notes that, "We feel the Sorcerer Mickey Hat truly represents the magic of show business and the entertainment wizardry of Disney. This imaginative icon falls in line with the tradition of Cinderella Castle at Magic Kingdom, Spaceship Earth at Epcot and the Tree of Life at Disney's Animal Kingdom." This indicates that the Hat is not likely to experience the disappearing wand treatment any time soon.