Yes, so magic is now in the real world.
The Queen was pretty much up the creek without a paddle because everyone got their memories back when the curse was lifted and realized what the Queen did.
With magic in the world now, the Queen is no longer defenseless. Neither is Gold. Gold no longer has the "please" factor though, so he is on his own.
It remains to be seen if everyone will get their magic abilities all at once, or if the magic comes back in stages, magic has to be relearned, whatever ...
Will Red be able to turn into a werewolf for example? Will folks be able to leave town now? (I still don't think so.)
With the curse broken, everyone with their memories back, magic in the real world ... they could really take this anywhere really.
I see the first few episode being somewhat of a reunion, folks renewing old friendships. Then there will be contention of course. In story land folks were married to certain people. In the real world different folks were married to different people. So there of course will be all of that drama. The Queen will come forth with some sort of idea. There will be a division in the town. Enter a few more story characters not yet revealed ...
I don't see it as a reset button either. I see the next season being folks now have memories of story land and real land ... and what they do with that knowledge.