I was pretty close, I didn't account for it being a one-way loop, though this doesn't go quite as far west as I thought.
I'm not enthusiastic for this at all.
I don't see it adding value, how many ways can you look at the Falls? So this just slashes business for the Skylon Tower, that's fine, but its not a big net new trip generator.
I don't think a Big Ferris wheel will achieve much either, nor another casino.
To me, the biggest trip generator for the Falls is unquestionably, in one way or another, a better transit connection from the current VIA/GO station, connecting people more easily to Clifton Hill, and maybe on to Fallsview.
Alternatively achieve the same by a net new or relocated GO Station.
After that, its Transportation again, its hourly GO service or thereabouts, maybe bi-hourly on weekdays, hourly on weekends from Toronto.
Those 2 moves alone could pull a 25% increase in tourism to the region. (particularly with an infill station in wine country.
*****
After that, the best options include augmenting the Bruce Trail (taking it off road wherever possible), connecting it to transit, wherever feasible, adding quality trail heads periodically (seating, canopies, route maps), and then anchoring it with a significantly enlarged Shorthills Provincial Park and add a 350 site campground. It would do gangbusters business.
A viable, well done theme park may make sense, if a private operator wants to do the heavily lifting. An amphitheater with a Lakeside view somewhere that could host TSO or Hamilton Philharmonic concerts on summer weekends would also be a good magnate.