What if we built our water park to stay open to 11 pm or later? Oh wait, still nobody will stay past 5.
Build a free-to-enter theme park in Orlando, congrats, you just built Fun Spot/Old Town. Expect the same crowd. Only even more popular because free fireworks (Disney Springs STILL pulls a crowd every NYE looking for fireworks). You can change how you build/run theme parks, but you can't change how crowds will react to theme parks.
... oh wait, you're serious???
Yeah, forget the $150 guests who've been buying stuff all day, let's cater to the guest who might buy a $6 soda, maybe.
CityWalk was always a rip-off of PI ... and much like Disney, Universal found out it's not easy to keep a nightlife district relevant by reinventing it every half decade or so. And once it starts to fade, begins to shift to a non-family friendly crowd. I don't know that they'd be keen to build
another CityWalk when they haven't solved the issues of the first. Now a rip-off Disney Springs would be a different story, but I've seen zero evidence of that...