I remember a quote from one of the leading managers behind the new fantasyland expansion about how the disney theme parks such as disneyland and the magic kingdom have to be a balancing act between innovation and nostalgia, a major draw to these parks for many people whether the attraction itself is outdated or not is the fact that the same attraction they went on as a kid is more or less still there when they come back. All the while he mentioned they do tend to put little upgrades here and there such as the different effects that came with the mansion 2007 refurb and the love it or hate it jack sparrow upgrade that came to pirates. So an attraction like tiki room whether its boring or out dated or not, is in many peoples minds a giant staple to the park same thing with jungle cruise. These rides from a technical standpoint are both extremely outdated but to see people ride it and smile and remember a time when they went there with their parents and also ran around the park looking for a mouse is well touching to say the least. Heck nostalgia I think is one of the main driving factors behind the park in the first place.
You can't really compare Tiki Room to Jungle Cruise. Tiki Room is a very small attraction with very little capacity. Even though it is small, it still seldom fills its available seats. Jungle Cruise takes up a huge amount of real estate and swallows huge crowds every hour. Jungle Cruise fundamentally changed its show as well.
When Jungle Cruise first opened at DL back in 1955 it was based upon the True Life Adventures. There were a few small jokes and puns, but most of the ride was very serious. By 1962 the crowds grew tired of the Jungle Cruise and its popularity suffered. They turned to cornball comedy to lure the crowds back and it worked. They've never looked back. When Jungle Cruise first opened at WDW it was designed with cornball comedy in mind from the start. It still draws huge crowds.
20K is another good example. It took up a huge plot of real estate and was successful for many years. In later years its popularity diminished and by 1994 they closed it down. There really wasn't a way to make people laugh about being in a hot and smelly enclosed boat.
Nostalgia is great but if it doesn't draw the crowds then something has to be done. Mr. Toad, Snow White, The Skyway, The Swan Boats, Mike Fink Keel Boats and several other attractions have bit the dust due to low popularity.
As a practical matter the Tiki Room takes up such a small area that it would hardly be missed except for a few diehards. They would get over it quickly as did the Mr. Toad fans. Same thing goes for CBJ.
I see a real problem when they get ready to remove CoP. Again, it's one of those attractions that has dwindled in popularity and like the Tiki Room it has lost its relevancy and doesn't fit within its themed environment any longer.
However, removal of CoP is going to be a bear! It takes up a huge piece of real estate and the People Mover track is part of the structure. CoP will have to stay until a complete demolition of the entire area takes place in that corner of the park.
In summation, I think it's just a matter of priorities and available money. If you took all of the MK attractions and put them in priority order, the Tiki Room would no doubt be near the top of the list for removal. Heck, the Aladdin spinner does more business than the Tiki Room.