In addition to the IP being a mismatch for the ride type, Matterhorn Bobsleds is also obscenely popular and draws some of the highest waits in the resort. This strikes me as a "Stitch Mountain" scenario in that it was seriously considered as a means of justifying a necessary overhaul but ultimately scrapped because so much of it doesn't make sense beyond.
Matterhorn is going to need crisis-level maintenance sooner rather than later, but I have a feeling that if the mountain can be saved, they will attempt another refresh of show elements to try and market it as a "new attraction" again.