I think Universal Classic Monsters can work amazingly within the theme parks if they realize that the horror within the films mirror moral/ethical dilemmas we face daily. Frankenstein showcases the trouble of playing God and how man's search for discovery and be the biggest downfall, Dracula mirrored the fact that people were supposedly dead from illness and were buried alive yet sometimes managed to get out of their tomb and back to the surface, Invisible Man showed how power corrupts, Wolf Man showcased the struggles man can have with change, the mummy shows the danger of messing with things we don't know about well. The reason why the films are classics are not just because of the monsters but the very nuanced performances by the actors, just rewatch the first appearance of each monster and it drives the connection.
I also think recently and actually fear Murdy's treatment for the attraction. I think he understands the concepts as he showcased it in the first scene of the HHN house in Hollywood last year, however at the same time. HHN house is very different than honoring and creating an attraction made to honor these films.
Remember Frankenstein monster wasn't a monster at first, it was his lack of understanding that made him a monster. Like with Maria, who played with him, and showed him the flowers that float. That caused him to throw Maria in the Water because he believed she would float like a flower.
I get the modern setting for the monsters and I think if the creatives in charge of creating this world can find ways to honor the truth regarding the stories and more, we can end up with a family friendly terrifyingly great land and attraction. However I think they will have some trouble unless the manage to get some next level AAs or performers who are so incredible at performing subtle notions.
I think however they should've made the main character for the land the daughter of the Invisible Man. One, like Dr Frankenstein, he was a scientist. Whereas Victor was just focused on playing God, the Invisible Man's motivation were more corrupt...he would more so use science to arise the monsters to terrorize and control the populace whereas Dr Frankenstein's daughter motivations to introduce us to the other monsters is questionable. Part of the reason why Victor made a mate was due to the manipulation of Dr. Pretorius as well as to protect his wife Elizabeth. Part of the reason Victor manages to lives is because the Monster decided not to punish him before killing the bride for rejecting him and Dr Pretorius for being a bad man. With that family history it does not make sense for his daughter to do anything.
As for bringing back the monsters, you have the Invisible man's formula, the tombs still exist for The Mummy, Van Helsing's notebooks are still relevant, you have Dr Frankensteins notes on reviving the human body, and so much more. So its quite easy for them to have ways to bring monsters back.
Lastly, if we do get the Creature Attraction, I can see it be Kong/Jungle Cruise like