It can but the question is will it? It is somewhat a world unto itself and it could even work as an american traveling circus in Europe as I have said before. When I complain about a "circusland" it is the fear they will turn the current toontown and all of FL east into a giant circus themed land without respect to the emerging transformation/backstory of FL.
This would definitely be the easy and cheap way to do things and if they do we would be stuck with it.
It that vein every single ride, restaurant, attraction and M&G could be considered a "world onto itself." It will be fine in the end. Just give it time....