From my perspective: My family skied Smugglers almost exclusively from the late 60's through the mid 70's. My father had a co worker who recommended it over Stowe ( due to "Liftlines"). It was a 7 hour slog from our home in NNJ so my parents rented a condo for the season in the village which was at that time newly being built. Went every other weekend and school vacations. Was a walkable to the Morse Mountain double chair (they only had 3 at that time, one for each mountain) and personally got lucky with an instructor that really got my game going over one Christmas Vacation. Great memories with a couple of really fantastic winters like being basically snowed "in" with 64" in 3 days Dec 69. (mountain was open). Remember skiing the connection across Sterling Pond to Spruce Peak. Was our home mountain for many years.
Fast forward many years, Lots of travel checking out other areas in New England and out west, but we still did put in the occasional visit to Smugglers and watched what changed and what didn't change. While they put in some lifts, they were somewhat slow to upgrade snow making (which probably pushed me away a couple of lean snow years in the late 70's, early 80's) and compared to some other areas it's just not that convenient plus out side of the village there really wasn't too much good lodging outside of Burlington almost an hour away. I do remember one really fun weekend at a motel called the Highlander (I think) on 108 but that was when I was single and thus had lower standards.
My last visit to Smuggs was probably was probably back in the mid 2000's I frankly just found it down right old in so many ways. The speed doesn't bother me too much but the lifts are old and not particularly comfortable. Madonna 1 is 15 minutes plus of that. There really is no good base lodge area down at the village where some of the parking is, and the mid Madonna Lodge was obsolete in the 80's and I don't think much has been done to it since. As I've gotten older skiing has become more to me then just the sport itself and nicer facilities (say a decent bar and or a nice summit lodge for warm up and dining) have become more vital to a good experience especially with my wife who I like to pamper a bit. These are some of the things Smugglers was not really providing on my last visit there. It maybe one thing for the person who is local to the area but its another to people like me, a "weekend warrior" (I would say one of the biggest main stays in NE skiing) who spends good bucks for a couple of days skiing.
Smuggs will always have a place in heart because of my history there. They are never going to be able to put a high speed lift up to the summit of Madonna due to the winds. I really think they should think about doing something like I said in a post above with shortening the Madonna I lift and putting a more modern (high speed )lift up the side replacing Madonna 2 (plus one on Sterling and Morse too). Certainly the terrain there is top notch they just need to up grade the access to it and other facilities around it.
The great thing about skiing is there are still experiences available for everyone. Not everyone has to have or even wants the vacation amenities you describe.
Some people prefer minimalist experiences that don't break the bank. That's what Smuggs mostly offers. Though their lodging can be pretty pricey still for what it is.
Smuggs fans do not want it to become Stowe and if you added all of those high-speed lifts, then you also have to add in the fancy lodging and higher brow F&B options to support it. So, it basically becomes Stowe.