It wouldn't be too bad if it were replaced. It stands as a monument as the first in a big trend in pretty much every 3D show made from then on (Muppets, ITTBAB, Shrek, PhilharMagic), and thus, is probably the most outdated.
Honey I Shrunk the Kids was cool and all, but it does show the attraction's age. It is also kinda neat because it makes Imagination to be the first pavillion with 2 truely linkled attractions, making the whoe pavillion an "Imagination Institute", with Eric Idle as a continuing character.
But seeing as JII with Figment proved to be a dissapointment for many, and having HISTA getting outdated, it would be awesome to see a total renovation of the entire pavillion...