I admit that, in its current state, Innoventions is pretty terrible. However, at its heart, it might be a workable concept.
Future World is supposedly a place to showcase how technology will change/is changing our lives. In large attractions, whenever a new technology comes out, it usually takes a bit of time to update, depending on the size of the achievement. However, Innoventions is almost capable of updating itself in real time. If a new piece of technology comes out that blows the past technology away, you close off the old exhibit and open a new one a few weeks/months later, and the rest of the pavilion goes uninterrupted.
I think Innoventions could be revitalized by creating a couple of exhibits for a few topics. Agriculture, transportation, computers, medicine, what have you. Heck, I'd be happy to see a Blue Sky something to reflect the Imagination pavilion and the coming expansions to WDW.
Right now I feel like the main issue with Innoventions is that it's disorganized. I don't even know what it's supposed to represent. You have something about finance, something about weather, something about safety, something about physics, etc. Its lack of a clear foundation might be the biggest problem with it. Address that, and the rest will come.
To my understanding, the original concept for Innoventions was to have a PeopleMover on the second floor. If the room is there, I think it might be nice to have a PeopleMover as a transportation system around a couple of new second floor exhibits and also combine that with a couple small dark ride show scenes inspired by Horizons. It might be a terrible idea. I don't know. XD
In short, fix Innoventions not by making it a shop or restaurant, but by giving it some core goals for it, and set out to fulfill those goals. Be it by gutting the pavilion and giving more structure for the exhibits, by adding a ride to the second floor that would try to tie the pavilion together as a cohesive "This is our future" type thing, or something else.