As a world-1 level, I think it does enough to guide new players in the right direction. Water is used where bottomless pits are to give players a second chance if they fall, enemies are spaced nicely, and powerups are used relatively liberally. That being said, the level isn't really designed around the raccoon leaf, which to my understanding is the primary powerup in the stage. There are no wide open areas or secrets that involve flight/tail spin that I know of. I think throughout my playthrough, there was only one instance where I found it useful other than getting out of the bonus room, and that was combat based.
The risk and reward in the level was very hit and miss. On one hand, coins are placed in nice spots, and the encounter with the volcano lotus on the semi-solid was a great early-game challenge. On the other hand, you get coin clutter:

Packing tons of coins into question blocks like this, especially when used frequently can disrupt the flow of the game, and may entice people to skip collecting the coins that they've earned out of boredom. It's a lot more fun for players if coins are spaced in the world for them to run around and collect rather than a single block that they have to mash a button to reap anything from.

Yup. It's a huge difficulty spike that comes out of nowhere and is placed so accessibly in the world. I'd add an escape pipe so people don't have to complete the challenge to get back to the level, and maybe hide the entrance somewhere harder to get that only a more seasoned player would be able to find.