Dreamworld don't need to hit a home-run right now. They need to just hit singles and doubles. Get to first base, then to second base, until all the bases are loaded and you can start getting back to home base and get some runs on the board.
Everyone here wants them to invest heavily in a major attraction - and they definitely need to do that eventually, but they need to make some smaller, significant plays to get back in the game.
The trick is to buy off-the-shelf rides that fit into the family/thrill category. This means mild to wild thrills.
An ABC Tourbillon to replace Wipeout, an RMC Raptor or Gravity Group Woody to replace HWSW, leading up to a falcons-fury style revamp of GD to replace TOT2/GD. (I know the tourbillon is a 'meh' ride, but the visual experience will have everyone talking about it - which is the point!)
Slowly, build an aviation-themed area of the park to replace Gold Rush that highlights some of the major Queensland contributions to Aviation (Charles Kingsford Smith, Qantas, etc.), and then invest in a major new ride - the new Vekoma Flying Coaster - as the centre piece, work in the new GD rebuild, and Sky Voyager into the area, and suddenly you've got a park that is kicking some major goals, with a range of unique attractions that other GC parks don't have.
They need to dream big, but act sensibly.
Ardent can absolutely turn this around if they just commit to a proper vision for the park and really sweat the details. As a priority, hire a Creative Director to oversee that creative vision and do what that person advises.
If they can just hold back from turning the former GoldRush site into a Caravan Park, I remain hopeful (but not optimistic).