" I can't help but wonder how this would have fared in a different venue."
I am not someone who believes any venue is inherently cursed, but I do think some are chosen only by producers who don't really know what they are doing. And 213 W 42nd Street is one of those.
There is another observation that I think is pertinent, and that is that the theatre seems to actually appeal to producers who have an out-sized sense of their property. In other words, folks who put the cart before the horse.
In this case, the out-sizedness is rooted in the theatre's genes. Garth built it based on out-sized aspirations. And if you look at the shows that have taken up residence there since, the producers of a majority of them were neophytes who were attracted to the venue because they thought they had the next big thing and that it of course "needed" a space like that. Spider-Man certainly was the ne plus ultra of that. On the Town suffered from the same sensibility.
Some day, hopefully sooner rather than later, a producer who knows how to match what they have with what they need, will solve the riddle of the (now) Lyric, and we will all wonder what took so long.