I have a few mixed thoughts about this, but firstly, for that price, of course it's worth it! Bear in mind that WRR cost around £500 K so for just £400 K more, they have got a coaster, and it will certainly be a fantastic draw to the park. Certainly much more than any other flat ride, water ride...
I've only had the pleasure of riding on three of the UK's large drop towers, but:
3) Ice Blast
I'm not that much of a fan of Ice Blast because its over so quickly. Where as with Clanger, you get the great drop!
It has been confirmed by park staff and PI is no longer trading under Flamingo Land ltd.
As for reasons why this has happened, it isn't really what should be discussed on a forum, but the basics is that due to disputes in the Gibb family, PI is no longer Flamingo Lands.
The ride would have to be replaced with something damn special for it to be a suitable replacement to the Ultimate.
To be fair to the management though, it will only be removed when it needs to be. And I don't see that point coming for a while yet!