This is my generally my take as well. I mean, I'd prefer the current setup only minus the sitting president speaking, but I could accept this if well done. I could easily see an attraction that is reverent of the position of President while being entertaining for the masses.
That said, if they do this, they need to bring back the Muppets show outside the attraction. Not only was it decent, but it would really tie things together.
As an aside, it is interesting/odd if the two most "American" areas of Liberty Sq and American Adventure both feature the Muppets.
I could see this being pretty cool, if it's done tastefully and respectfully. Especially with what Politics in America have become. Injecting the Muppets might be one of the only ways to keep HoP civil.
Yes, Hall of Presidents is an absolute classic, and I'm sure many people will be very upset about this. That doesn't mean that this isn't a decent idea. It would most certainly liven up a show that's perceived by many as a perfect midday nap, and I do think it would reduce the amount of screaming children acting out because they're bored.
The Muppets are a super classic Disney IP that seem to be operating in a weird place in WDW. MuppetVision 3D, while charming, is absolutely on its last legs. The last time I was in Studios (back in 2014), the audio was so out of sync with the show, it was a mess. The 3D effects are super dated, and there have been a few additions to the Muppets line up since this show was created. It's time they receive a bit of a glow up.
Plus, it's no secret that "Muppetland' is losing more and more of its theming lately, most recently with Mr. Honker. I wouldn't be terribly surprised if this lead way to them repurposing the Hollywood Studios space for a new IP/expansion of lands that border it. Especially since Muppetland sits directly between Star Tours and Galaxy Edge...
This is to me at least, in similar vein to the SM re-theme. SM was announced during one of the most intense moments in American history, and we are yet again witnessing the same thing here. I don’t know whether I should say certain other attractions won’t suffer the same fate, but I can hope this is the last of the re-themes. At least this one will put an end to an actual problem within the attraction. The country is very much divided atm, so I’m afraid something needs to happen with HoP.