Just a couple of observations:
1) Do you really think the waterboggan consistently rated as "one of the things families come to the park to do?" Was it a real draw? Not so much in the last couple of years, IMO. There was a time when the lines would extend all the way down the tower stairs, but those days are long gone. A small percentage of people may miss it, but not much more.
2) The waterboggan was dangerous. Not necessarily in a life threatening way, but scrapes and bruises, some very nasty, were very common to people coming off of it. It consistently caused a high number of reported incidents, trips to first aid after, and that doesn't begin to reflect the number of unreported incidents. I'm surprised the ride lasted as long as it did, and frankly, I'm glad it's gone.