What they're doing to Tokyo's Space Mountain does make me wonder if they might try doing this to WDW's Space Mountain to make it fit more next to its new TRON neighbor. I would be surprised . . . but then, I already am surprised they're doing this in Tokyo.
I too am thinking this may be a ploy by WDI to split the cost with Tokyo for a rebuild of WDW's SM, BUT the two are quite different (TDL's is a copy of DLR, and much smaller), and I'm not sure Disney proper has the nerve to do something this big for WDW...but then they are redoing Splash Mountain, so who knows...
There's also vague mention of using "renewals of existing attractions" to drive attendance.
Sounds similar to what DLP did. Overhaul one E-ticket at a time and put in new effects, though Tokyo kind of started that already with rides like Jungle Cruise and Small World. Could be related to the upcoming lengthily closure of Pirates.
Tokyo's Space is the worst IMO. A boring copy of DLR, but now rough and worn. I support a total gut and rebuild, but I'm not sold on the new look and I'm concerned about the rest of Tomorrowland. Don't get rid of the spires at the entrance!
I think this is all part of a broader effort to "update" TDL and have it not look so much like 1970s MK, which WDI has been biased against for some time. However, for myself and others
that's the whole appeal of Tokyo Disneyland and I really don't trust this generation of Imagineers to do any substantial overhaul right. Eddie Sotto's New Tomorrowland had greater potential IMO.
I fear the worst for some of my personal favorites like Snow White and Haunted Mansion. WED got them right the first time.