Do you think, since WDW is nixing yet another beloved holiday tradition, UOR will somehow pick up the slack (again)? I could totally see an Osborne-type light display in the NY/SF area of the studios.
Could they? Certainly. Will they? Probably not. They don't seem to be in any rush to switch up or expand their holiday offerings, as stale as they may be.
On one hand, the city areas in US seem perfect for them, and it'd be a great way for the lights to be reborn. On another hand, it would be pretty unoriginal.