The IoM vintage transport system brings in so many visitors wh spend on meals and accommodation, that it would be silly to piffly wiffle about closing bits of it.
Agreed that the vintage transport system does bring in a lot of visitors. The steam railway can get very packed, and likewise the Snaefell trams. But the electric trams empty out when they get to Laxey. The last time that I was over there, for a transport festival week when you would think there would be plenty of enthusiasts about, the trams beyond Laxey rarely had more than half a dozen passengers on. Everyone got out at Laxey, with most making a beeline for the Snaefell car. Much as I too like the northern section, being realistic there is surely going to come a time when the Manx government stops subsiding near-empty trams.
There is no point in buying modern trams, as they are never going to compete with the buses for local traffic. The buses are just so much faster. To get equivalent speeds, the line would have to be so heavily re-engineered and re-aligned that it would lose all its heritage appeal.
The horse trams have also lost any pretence of being a mode of transport, now that they only go half way along the prom, and with such a low frequency that it is invariably quicker to walk. You have to be quite determined to ride on one, to sit it out while umpteen buses go past.
I have been going to the Isle of Mann for a long time, and have seen the steady and remorseless decline in the tourist trade. It is now but a pale ghost of what it once was. I doubt that there are much more than a dozen hotels left on the island now. Douglas is totally dead of an evening, let alone the smaller towns. They are making an effort to attract the cruise ships, but realistically speaking how many of them are going to be calling in each week? Cruise ships are only ever going to be the cherry on the cake, you still need some cake.
The comparison with somewhere like Llandudno is stark. Forty years ago if you went to Llandudno in November, the place was dead. Now it is buzzing. Most UK resorts long ago realised that they can't survive on a six week high season alone, they need to be attracting tourists all year round. Whereas Douglas doesn't seem to want tourists after 6pm even in high summer.