I think if Walt had guided the theme parks for a longer period of time I think we'd see fewer of the attractions we now consider to be classics. Based on his track record of improving, plussing, and tearing out the old to make room for whatever was newest and most interesting to him I think there would have been much more change in the parks.
The original question about EPCOT the city has always interested me. Part of me thinks that if Walt wanted it, he could have had it, but so much of what he wanted to build required SO much outside involvement it would have been hard to make it happen in the absence of outside support. I think he was VERY optimistic in the late 60's that the various industries required to help build the city and create those innovative systems he wanted to showcase would all line up and be clamoring for the chance to participate in EPCOT.
But I think a lot of that collective optimism that might have been more plentiful in the 60's had dried up by the mid-late 70's when the city would have been seeing most of its construction. Look at how corporate sponsors (or a lack thereof) make or break the construction, upkeep, and updating of attractions or pavilions in the parks today. EPCOT would have required not just a large commitment at the outset for construction, but a constant involvement in its maintenance, upkeep, and constant upgrading.
Disney would never have had the money to build, or even maintain the EPCOT city without generous outside support, and with that outside support would have come outside control. If the various industries involved would have been throwing the money into the project, they certainly would have gained more and more input and control of the entire EPCOT project.
And even worse, perhaps, what would have happened if that support had suddenly or even gradually dried up? We all lament the various cutbacks the resort has gone through, and is going through right now, but imagine how we are constantly talking about fewer fireworks shows and live entertainment. Minor attraction rehabs when a bigger and more comprehensive reworking would be preferred. Postponing or shelving whole attractions because of a lack of funding.
Now imagine instead of seeing cutbacks in simple entertainment opportunities we we dealing re with people's homes, jobs, and their entire living community. And how could any company justify ANY improvements to a theme park if they weren't keeping all of the people living IN the EPCOT city well cared for?
As much as part of me would have liked to see Walt's "last, greatest dream" be built and flourish the way he would have wanted it to, I feel like it might have actually been a failure so great it would have threatened everything else we love at Walt Disney World.