I don't think the conversation should necessarily be about Disney-like rides (and perhaps my original label of Pirates-style was lazy and imprecise in this respect). I'm certainly not yearning for a nostalgic ride that looks like it was built decades ago. But I think rides like Pirates stand for something more than that -- a certain kind of world building, a certain depth of atmosphere and mood -- which Universal could certainly build in their own house style. I can imagine a boat ride with slower and faster sections, a few good drops, a more 'thrilling' or sinister story and a thrilling soundtrack. They'd have the chance to go all-in on set design and detailed environments and building something with atmosphere and character, but that needn't mean building a ride that Disney would build. Hey, I wouldn't even care if there were screens in part of it.
Put another way: I think there's a way of imagining Skull Island built as a boat ride like this (ok, maybe with a higher-stakes storyline). It could fulfil the same purpose as an attraction whilst giving some variety in ride experiences.