The development of knowledge graph (KG) applications has led to a rising need for entity alignment (EA) between heterogeneous KGs that are extracted from various sources. Recently, graph neural networks (GNNs) have been widely adopted in EA tasks due to GNNs' impressive ability to capture structure information. However, we have observed that the oversimplified settings of the existing common EA datasets are distant from real-world scenarios, which obstructs a full understanding of the advancements achieved by recent methods. This phenomenon makes us ponder: Do existing GNN-based EA methods really make great progress? In this paper, to study the performance of EA methods in realistic settings, we focus on the alignment of highly heterogeneous KGs (HHKGs) (e.g., event KGs and general KGs) which are different with regard to the scale and structure, and share fewer overlapping entities. First, we sweep the unreasonable settings, and propose two new HHKG datasets that closely mimic real-world EA scenarios. Then, based on the proposed datasets, we conduct extensive experiments to evaluate previous representative EA methods, and reveal interesting findings about the progress of GNN-based EA methods. We find that the structural information becomes difficult to exploit but still valuable in aligning HHKGs. This phenomenon leads to inferior performance of existing EA methods, especially GNN-based methods. Our findings shed light on the potential problems resulting from an impulsive application of GNN-based methods as a panacea for all EA datasets. Finally, we introduce a simple but effective method: Simple-HHEA, which comprehensively utilizes entity name, structure, and temporal information. Experiment results show Simple-HHEA outperforms previous models on HHKG datasets.