I still think it should have something positive that comes with it also, aside from the bone charm whatever thing you get that lasts until the next long rest.

For instance, if it opened up extra abilities in some of the hag items, like the staff of crones or the ever seeing eye amulet. Like, maybe the ray of sickness on the staff could be used like a cantrip, or the amulet allowed you to see the invisible in addition to casting protection from good/evil. Just something with a bit more flavor.

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I do like the initial look of the eye when the transition happens, but I notice that it fades after that first scene. It's nice that you can still tell there's been a change to the eye, but it ends up looking a bit too washed out and no longer has the damage around the outside of the eye.

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As a side note, I've noticed a lot of things got tamed down a bit from early access. The eye no longer impacts crits. The gloves of power no longer curse the wearer if they don't have the brand. I sort of still miss parts of early access, like back when the underdark was so dark you couldn't see. Really felt like you were creeping through something dangerous. Now it has more of a wonderland feeling, at least to me.