Yes, it has been going downhill for ages and it really seems as viable as most of these PATH malls. Of course it IS at 'the end" so maybe a big retailer would generate traffic?
It needs a proper connection to the MTCC... That would bring a ton of people filtering in.
Also (way too late now) TIFF should have been connected underground. I work at the event space there and we don' get as much non-summer business in part because we are just outside of the core and the PATH.