I did Wave 2 last year and it was fine. Didn’t really find it chaotic at all….needed to pay attention to some early crosswind areas, but overall I would rate it as a fast group ride.
The last few miles can be a bit sketchy though as you are coming back into town, traffic picks up and there is less room to maneuver. But if you are a good bike handler, you can rail the last 2 turns and place well in your wave.