The latest bits falling from above don't have to do with corrosion (the more I think about it in light of the issues they've had with the London waterfront wall...), and the water issues have been very recent as well. I know about the work earlier this year, and yeah, it was not pretty at all. The recent water issues make me think they're still not truly aware of the scope of the issue(s).
I want them to keep the Poseidon show system/concept as well, because it is really quite interesting and unique, they just need the original (better) story back. I'm concerned that the kind of issues they're having with the water systems specifically are going to do it in, though, and kill any chance of major, indoor water effects and show systems.