As someone who has been collecting Classic Monsters stuff since my 1990s childhood, I can assure you that particular design aesthetic would not have been my first choice!
That said, this promo shot is
more (if not necessarily entirely) along the right path:
Utilizing the 1990s character logos goes a long way.
While that's good to hear, in total fairness, those of us who haven't been in the park yet can only judge what Universal chooses to show-off at this early point. This is the stuff Universal wanted to lead with, so it's in-bounds to talk about whether we like it or not.
There's definitely room for a merch line that feels more "in-universe."
And I still maintain my wacky idea for a Doctor Dreadful-style "build your own monster laboratory" line would be pretty cool!