First off, I understand the argument that this kind of "amusement park" was the type of park that Walt railed against when he created DL.
Then again, fifty years later, I see PP as a nostalgic look at the past, not unlike Main St. or Frontierland in DL. And, though many have complained, the alcohol consumption is quite a bit less prominent than many feared when DCA opened. They don't even see alcohol at PP anyway.
So, we're left with the rides. What do we have?
First and foremost we have an outstanding rollercoaster. Moreover, it's a coaster that many people can ride, unlike some of the really extreme coasters at other parks (I know, some view this as a bad thing, but this is a Disney park after all). I think Screamin frames the whole section quite well and there are a lot of thills on this quite long ride.
Okay, what else? I suggest that the Sun Wheel is a good ride too. As a cycle ride are there issues? Of course. But I think it gives outstanding views and thrills. I'll ride TOT but I'll NEVER ride the moving cars on the SW. Plus, the look of this and the size do make this a special ride, IMHO. I'd call this a D ticket overall.
I think the Golden Zephyr is a good C ticket. Good load capacity for a cycle ride and again something the whole family can do together. I like the motion on this ride and as it swings you out over the water it's a lot of fun.
I'd say the Rustworthy and Carousel are good attractions for kids -- my six year old could spend all day on these rides.
What's left? Stinger, Jellyfish, MM, Boomer. None of these strike me as particularly exciting or unique. Stinger is pretty look at but otherwise not very special. Worse, these all have height requirements so kids can't ride them (or, the thrills aren't that great for adults). These are the attractions I'd try to upgrade over time (esp. MM with the space over there including the Bay Area... could build something cool there).
I like the nostagic concept of the midway games but again these are nothing special or unique.
So, what do we have? One E, D, and C ticket, a couple good kid attractions, a great look, and some nice restaurants. Could it be better? Of course!
But overall I think the problem isn't the "concept" it is the execution of theme. Put in better rides and nobody could be complaining about the theme (okay... fewer people would complain).