Highlighting on this statement
What are things water parks haven't done so far?
1. Shows... theme parks have shows. No water parks have real shows.
Typhoon routinely has shows during the Summer, including Teen Beach Musical this Summer. Aquatica does animal presentations. Nothing like say Beetlejuice or Fantasmic, but guests go to water parks to get wet, not sit on bleachers
2. Parades.....0% of water parks have parades; Theme parks do
Agreed. See above, guests go for water rides, not to sit around.
3. Themed queues...can be argued not even Disney water parks have truly themed queues
Crush & Gusher fruit packing factory. The ski lift to highly themed queues atop Mount Whatever. Have to disagree on this one
4. Unique dining experiences...no water park has unique dining, however theme parks do.
Nothing sit-down, but again, the percentage of guests who would want that is negligible. And in terms of QSR, I'd argue the Disney water parks have some of the more interesting options resort-wide.
Its really not hard for them to market this as a theme park later on.
Except you put on a bathing suit, get in a wave pool and ride water slides. That's a water park. Guests are going to treat it as such. It will be dead in the Winter, and dead after 5:30 p.m. in the Summer.