To be fair I think Flamingo Land stopped putting a ton of effort in quite some time ago. I'd say in the late 90's the two parks were basically in the same position. After Flamingo Land got Velocity and Kumali in, Lightwater stopped really being much competition.
Lightwater kept throwing up temporary fairground rides while Flamingo Land was installing permanent ones, and permanent buildings, expanding their holiday park etc.
Now that Flamingo Land built Sik, I dont see them putting much effort in for a long time, they don't need to. They've had the north east and Scotland as devoted visitors for a long time anyway.
It's quite depressing as I think there was always space for both parks to exist and survive together. I always thought Lightwater could have become some kind of mini-efteling, a more quirky and beautiful park with unique attractions, whilst Flamingo Land would have had the bigger budget rides albeit with the holiday park stuff and not as interesting of a place.
In an alternative universe I could have seen Lightwater getting The Ultimate rebuilt in a new form by a proper manufacturer, or sections replaced to smooth it out with new trains. A woodie down near where Soopa Loopa was. A mixture of family friendly dark and flat rides.
Right now the park has:
The Ultimate and its building SBNO.
Raptor Attacks building, queue, station and old gift shop boarded up and abandoned.
Whirlwinds concrete foundations sat empty and bare.
The area around where Widows Web used to be is littered with old concrete footings and stuff.
Toad Hole sat abandoned since 2005.
Lightwater Wheel foundations sat empty.
The wave pirate ship foundations/lake/waterfall sat empty.
The old go kart track partially built over with remains left.
Skate Kart track left as just a random bit of tarmac.
Hungry Harbours roof has fallen in ages ago and so it's all just closed up.
My guess is they're planning to separate the park from the area where the Ultimate is, to potentially sell off that land and redevelop it. Posh houses would be my guess.