Ok, here is what I would do with toon lagoon.
From MSHI to the Popeye statue becomes Trolls. The land would have a covered Trolls version of the Freeze Ray flat with lots of crazy spinning colorful lighting called "DJ Suki's Dance Off" and an AA filled E Ticket trackless dark ride with an insipid music loop. Include the glitter farting M&G and a counter service burger and nuggets place. Also a quick service ice cream window and a fresh cotton candy with sugar crystal glitter place (pick your own cotton candy color/flavor and glitter color).
The Popeye area becomes Shrek's Swamp. Bluto's is rethemed to "Bog Battle". Lord Farquad's men are clearing the swamp of all the fairytale characters. They aren't going without a fight. It would be like if the Shrek movie and Home Alone had a love child. Weave an ol' timey car attraction through the land going around and over the swamp rafts. Have each car themed to a different fruit or veggie like a giant onion, giant orange, giant apple, giant blueberry, giant watermelon, etc. Have each car smell like the fruit/veggie. Call it something like Fairy Godmother's Magical Taxi Co. Wimpy's becomes Donkey's Ye Ol' Waffle Shoppe serving both sweet and savory waffles (I'll take the Jalapeno Corn Bread Waffle topped with Brisket and a little Sweet Baby Rays and a Swamp Water Brown Ale, please). Of course, the Shrek/Donkey/Fiona M&G. And a play land.
From the Popeye Statue to the bridge to Kong/JW becomes the indoor Panda land from Beijing including the E Ticket family friendly boat ride and Chinese Lantern spinner. Obviously, Mr. Ping's Noodle Shop would have to be included. It could be either a Counter Service Ramen Shop or possibly even be a full service pan Asian restaurant.
That would give the area 2 indoor family friendly E Tickets, one outdoor E Ticket raft ride, a couple of covered flats. And the car ride. That would be a really solid land.