My thoughts as well.
I don't see any world where Toon Lagoon should or would be going anywhere before 2030. There are too many other places making/needing to make moves first throughout the resort. Epic opening, Lost Continent/Zelda, Simpsons/Pokemon, Great Hall expansion, Luigi's Mansion expansion, Fear Factor Live, F&F (please), HRRR, some form of an addition to VBay, etc.
I'd love an addition to the theater, finally, but as a whole, Toon Lagoon is doing what it needs to do well IMO.