Much needed? I wouldn't say that. I wouldn't say that at all. That house is in relatively good shape. The only reason why it is having any work done to it at all is because the building/hotel itself is undergoing renovations and the freight elevators needed for a production's load-in/load-out are not available.
"The Spectacle has, indeed, an emotional attraction of its own, but, of all the parts, it is the least artistic, and connected least with the art of poetry. For the power of Tragedy, we may be sure, is felt even apart from representation and actors. Besides, the production of spectacular effects depends more on the art of the stage machinist than on that of the poet."
--Aristotle