I actually heard this rumor from a friend who feels it's definitely being talked about. I took to Google and came across these forums (hi, by the way!) so I guess there is some weight behind it. I do know that while they are one big company, at the park level they definitely act separate and BGT doesn't look at SWO too fondly. I see senior executives of BGT heading out to the dolphin bush and SeaWorld sign in the park and gleefully hitting them with baseball bats if a split is announced.
I don't get all the bashing of BGT either. BGT along with Universal are my favorite Florida parks. Disney is.. Disney, and SeaWorld is nice if you want to see some aquatic animals but the rides aren't a lot to write home about.
Now I'm a recent transplant to Florida, coming from a world where Six Flags rules. So that might have something to do with preferring parks with more thrill to them.
But on the flip side - if you think BGT or BGW are trashy you obviously haven't been to a Six Flags park lately. Take a visit and then you will be rushing back to your local Busch Gardens park to give it a hug. People joking about "Six Flags Tampa!" are not doing it in an endearing way
Oh, as for the area - from someone on the outside looking in (just heading to that part of Tampa for the park) - Busch Blvd and below seem sketchy, but Fowler and north don't seem too bad.
I also wouldn't say the park is landlocked for expansion. It's no gem of urban design but there are things that could be done, with enough money. I dont know how much into the safari people would be happy with expansion but, well, let's play "If I ran the park!"
Personally the worst thing about BGT to me is the tram. And preferred parking. I'd rather do normal parking and take the tram than preferred. So, when Montu's time is up I say move the park entrance to where Montu is along McKinley. Rip up the handicap/preferred/current entrance and expand into it. That's a good chunk of land. Hide Busch Blvd from sight. Then take the current parking lot and overflow along Busch Blvd (just up to the first tram stop) and put in a parking garage - 3 stories would give more parking than the park currently has I think. Make a ramp over/under McKinley to the new entrance.
Now you have a nice chunk of parking lot between the garage/park entrance and Adventure Island. You can put a hotel there, turn the rest into a mini Citywalk that connects right into Adventure Island with a bridge over Linebaugh.
I have plenty more ideas but I think I've ranted enough today for a forum newbie!