I agree with all of this.
That being said, I do have one major critique of the new iteration and it is something I didn't think of on my own.
I had some friends who recently took a FIRST TIME EVER trip to Orlando.
I recommended Imagination as something with a low wait time that their kids (ages 6 and 8) would love.
They didn't.
When I asked why, they said that the little dinosaur was kind of annoying and sprayed them with a skunk.
To me, having ridden the original version, I saw Figment as a fun, enthusiastic guide to all things fantastical.
To my friends' kids, he was a pest.
I have never looked at that ride the same way since.