First off, the problems 20k had were water caused. Water takes a tremendous toll on the vehicles, on the lagoon sealant, on the props. It takes a lot of maintenance to keep everything on track.
Second, capacity problems. 38 people per sub, nine subs. Plus updating the subs for ADA would have cost a fortune. In the end, the amount of money it costed to run the attraction, keep the lagoon plugged, and rehabbing it constantly outweighed the actual benefits of losing the attraction and freeing up some costs. No show pieces, no subs to upkeep or overhaul. Just a few cracks to fill in.
NOTE: SPOILER AHEAD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Third, in Tokyo, there is no water involved.. Sure, theres a "water effect" (which was actually going to be used for the "Little Mermaid" ride that was never built for DL Paris). But the show building is dryer than the sands of Agrabah across the park.
You get in the sub, and the glass has water inbetween its seals, that create bubbles and make it seem like your underwater. The subs actually travel on a track from above, and they go through dark ride rooms dressed to look like the bottom of the sea. No wear and tear, and its all up to date with today's building codes. Plus no leaking. :hammer: