I walked the length of the tramway while I was in Weymouth last month, and found the area around the station site at the harbour fenced off, with a lot of equipment present - I did wonder if that was perhaps the beginning of the end.
I can honestly say that there really is no practical use for this. It mixes in with fairly heavy traffic, doesn't go anywhere near the beach, and much of it goes past some fairly grim scenery, just in between buildings. The ferries have gone, and even if they hadn't, budget airlines have destroyed the market for foot passengers, so most ferry traffic is vehicle-based these days.
It was fascinating while it survived, but there's no feasible use for it, and the whole thing is bit of a liability. Its past use has been very well documented, and it's hardly a "crime" to move on. Weymouth needs a bit of sprucing up, to be honest, and removing a hazardous liability is probably a good place to start.