This is going to be primarily a M&G site, just like it is now.
Disney cares about “thematic consistency” only when it can be used as an excuse for budget-minded, lackluster additions. There is no reason something thematically consistent cannot also be substantial, especially in a park with enormous thematic flexibility like Studios.
Yes, it’s a vastly less interesting version of the original attraction reflecting decades of poor decisions.
Why does the park need play areas? Why does it need things for families to do? This is a particularly relevant question since they just killed a family attraction to build yet another coaster.
“Miles better” is a massive overstatement. It is, at best, a minor upgrade. And there is absolutely no reason to consider it outside of its larger context.