I'm not cynical about the living seas, I loved the living seas then and I love it now, I just don't see how people can say the Nemo overlay doesn't fit into the living seas well. You may not be a fan of it but that doesn't mean the theming is bad for it's location. Future World at Epcot has the same problem Tommorow Land does, it's pretty hard to but futuristic anymore, there's nothing futuristic about Mickey Mouse shaped pumpkins at the Land, there's no futuristic about hangliding over California. That doesn't mean these are all bad attractions.
I'm right with you here, it's really hard to continue establishing a "futuristic" theme park area with rides that are 20 or 30 years old. It reaches a point where these themes just become a parody of themselves, like in Carousel of Progress where the family is playing a virtual reality game in the "future" that looks about 1/10th as sophisticated as the PS3 and Wii consoles kids (and adults) are enjoying today.