We don't need something that's basically just Bill and Ted 2.0, the event is just fine without it, there are plenty of other ways to do a comedy show that fit with HHN just a little bit better IMO.
Obviously different events with different ideas, but I like what Knott's has done with (some of) The Hanging, which they brought back last year. The pop culture jokes can still be cringey and unnecessary, but I enjoyed that a lot of the stage, props, story, and jokes referenced Knott's as a whole, roasting parts of the Scary Farm event and more of the theme park / haunt industry rather than just being JUST a predictable pop-culture romp.
I'd like to see that part come over to HHN, roasting some of their past failures and having a show that's a lot more funny if you follow the event- you can keep the same style of dimwitted-but-lovable hosts, the content is similar to before but less likely to approach taboo subjects. At least, I don't think Universal would be willing to go as risqué with some of their "jokes" from before. You could counter that maybe it becomes less intriguing for the GP, but Nightmare Fuel still theoretically exists, and there's still the potential for a draw of decent crowds.
I guess there were moments like that in The Carnage Returns at the very least, but I know HHN can be more dynamic with their entertainment, they don't need to just retread what worked before beat-for-beat.