Interestingly, I just rode F.L.Y. about a month ago. I enjoyed it, and it was very reridable and very smooth. But of course, at Phantasialand, what made the ride super memorable is all the close calls you get with buildings, water features, and the like. Which I can't really imagine SFMM would have too much of.
I also didn't find it super thrilling, just fun. That said, I was seated in the middle. I've heard it's much more intense and even has airtime (!) in the front row.
It also has/had the distinction of being the only launched flying coaster. And while I felt the launch was a bit on the mild side, this is where I could imagine SFMM ramping that up quite a bit, so it could make the experience quite a bit different if they were so inclined, and would arguably be the marketing angle. And the park only has one other launched coaster (FT).
But F.L.Y.'s most distinctive feature is the load system. It's wild, unexpected, and way more efficient that the B&M models are. And it makes me wonder if SFMM would expand on that "pre-fly" sideways option as well, though not sure how practical that would be.
Also of note is Phantasialand had a very, very strict "absolutely no carry on items or anything in your pockets even phones and even if the pockets zipper up" locker system that included a metal detector like Velocicoaster does (which is why there's no videos of the load system out there). It'd be interesting to see if SFMM did that. I can't imagine it, but who knows?
It would make the steampunk bird logo make sense, though.