Many people that moved back to downtowns said easy access to these things are what attracted them to move there. Now if those events move; it’s very likely you see a migration away from downtowns again.Which again, I understand from a space point of view, but I remember the times I went to Oktoberfest we would always be able to go out somewhere after we were done with the festivities. Usually including a trip to HH.
If they do it right, it can work, but have to think there will be more vehicle traffic vs. the foot traffic they likely got downtown. Or downtown residents that just decide to stay home.