Carousel of Progress' current state is contrary to the name and theme of the attraction. As someone who feels it's a Top 5 attraction for me at MK, I do think one of two things need to happen:
1) End its misery. Its current state is a sad sad place to be. Is it a look at the 20th century progress? Is it supposed to continue looking forward at progress? Who knows, hard to say. Put something new and fresh in its place. As Walt said about Disneyland, it will always be changing. As much as Walt may have created and loved CoP, even he would have done away with it by now.
2) Full Refurb. Move to 5 scenes as has been mentioned. This solves for two issues - not enough rotations to tell the story and eliminates some of its ability to eat people. Today, people enter and exit at the same time through 4 doors (2 enter and 2 exit), if you limit that to one rotation, people have to enter and exit through only 2 doors which slows traffic. Likely, the rotations would have to be lengthened to accommodate additional time in the turning of people. Now, maybe each rotation is 6 minutes instead of 4, for example. Now it eats less people and creates a line. Maybe, it draws more attention to itself.
As for the Refurb. itself, a decision must be made, is it Carousel of Progress for the 20th century? If so, the scenes should be 1900, 1920, 1940, 1960 and 1980. Is it truly the Carousel of Progress, ongoing? Then I think the scenes should be 1900, 1940, 1980, 2020 (today really) and 2060. That buys you some time in the attractions lifespan as 2060 is well further away than before a necessary Refurb. You've built some longevity into the thing and eliminate the odd jump to a final scene that doesn't fit with the others.
I'd prefer option 2, but if they're not going to invest into the attraction to make it work (I'm sorry, but only changing the final scene and jumping from 1940 to present does not make for good flow and ignores some of the most inventive years of the century), then at least give it some dignity in death.