My $.02 here.
I personally don't know of any other shooting ride that's as good as MIB. The only thing that comes even remotely close to me would be Justice League at SFMM....that is, when everything on that ride works. For me what makes the ride so great is how the cars spin for some added thrill while you're shooting at the targets. Though the ride is kinda light on awesome special effects and the practical effects are kinda simple, the shooting aspect and thrill from the spin is what really makes it fun.
Although if we're being brutally honest with ourselves, as fun as the ride is....it's definitely seen better days. Compared to the other rides at the resort, it's kinda dated. It would absolutely benefit from an update, but being that the ride is kinda randomly placed where it is and it takes up a ton of space, I can't really fault them for wanting to get rid of it.
Truth be told, if a better version of MIB were to come to Studios that did all of the things MIB is capable of but does it better, I wouldn't mind if they closed MIB for expansion, but for that reason only. I don't want some crummy Buzz Lightyear-level omniomover ride, I want a full-fledged E-ticket shooting ride that will make me fairly dizzy. What other IP could come close to what MIB could provide?
Ghostbusters. Instead of giving it a cheap overlay of MIB, tear down MIB for a future expansion and put a Ghostbusters ride in the NY area where it belongs. They can do it with better effects, better vehicle motion, better shooting dynamics, all at a fraction of the space and in a place where it actually belongs. Just have the queue and gift shops on the first floor and the full ride on the second floor. A Ghostbusters ride, I think at least, would make a great fit for USF and would love to see it.
But if a Ghostbusters ride can't happen, then MIB needs to stay. That stupid Minions escalator with guns ain't gonna cut it.