It kind of depends on your point of view.
WaterWorld is a spectacular stunt show. Sure, it's based on a 15 year old movie, but it stands alone as a great stunt show. I mean, Fantasmic is 19 years old and rarely considered long in the tooth. There's a ride in Fantasyland based on 74 year old movie.
ET is still in Florida - I wish it was still in Hollywood. even though the film is 29 years old. To me, a good show is a good show and a good ride is a good ride.