I listened to the stream last night. I was impressed with their playing!
Observations:
First set seemed really solid. Very little “out there jamming” (gone are the days, I think, of starting the show with 20 minute Chalkdusts) but great song selection. Glad to hear Beauty back, and I hope that they continue to keep that one in, cause it’s a great tune! My only wish is that they had ended the set with a typical set 1 ender (Bowie, Antelope, etc) however, it’s kind of cool that they didn’t end that way, too.
Second set was hot. I loved that they let go and none of the jams seemed like they were cut short. Placement of “If I Could” was good, in my opinion, and the jamming in Carini, Ghost, Boogie On was great. It really seemed like Trey was calmed down a bit and letting things happen naturally. There was also lots of teased by Trey, and the Buried Alive reprise also brought it in and made it one of those Phish experiences that’s unique.
Speculation:
I suspect that they made a conscious effort to listen to the fans about set 1 vs set 2. There was a huge different between the two, and I felt like set two had a good flow to it (aspects of jamming, a slower tune, and some party mixed in, too). It just seemed like they wanted to make sure this was a unique show, and I think they hit the nail on the head. They definitely spent time talking about calming down and playing together instead of one person being in charge.
Also, Page is on FIRE 
Great tour opener!