What is a Bight?
The term “bight” is used to refer both to a bend in the
shoreline, and to the wide bay which is formed by such a
bend. There are several notable bights around the world,
ranging from the Great Australian Bight to the New York
Bight. Many bights support large settlements who
take advantage of the shelter of the bight to moor boats
and establish thriving trading communities. The term
“bight” is often used interchangeably with words like
“bay,” to the frustration of some geologists, who argue
that a bight is a distinct geological feature.
Basically, a “Bight" is the opposite of a peninsula  - it's a
body of water surrounded on three sides by land.

Now the Key West Bight is referred to as "The Historic
Seaport" and it includes the "Key West Harbor Walk" for
tourists to stroll along. It's still locally called the Key West
Bight, and it's still a working marina that provides
sustenance for the common man and benefits the entire
economy of Key West. Even back in the old days there
were tourists, but things were much different back then.

Photos of Key West Bight through the years.
Same view
Present day location of
Schooner Wharf Bar