If they could modernize the current attraction with improved effects and better propping (not just a bare warehouse theme), the ride would be doing just fine. I don't necessarily think Figment needs an E-ticket level attraction, but it would help provide a good high-quality alternative to the other major additions to Epcot.
I've posted it about it before, but I like the idea of the Imagination Institute becoming (as odd as it sounds) an Imagineering showcase. It's weird, but Imagineering has become an IP of sorts and I think they deserve a showcase somewhere in the parks.
The post show could become a major hub for Imagineering's latest R&D, ride models for future experiences, etc. The cruise ships have them, I think the parks should too.