Rose tinted glasses are great. Its been a very long time since sports car races have drawn big crowds at anything thing other than a few key races outside the USA.
I expect if tracks like Monza, the 'ring, Paul Ricard thought they could make a race work for them they would pushing to have a race there. The European appetite for long distance races has faded,
The WEC could work, and may still do, its got 2 works teams and maybe one day the Porsche will finally turn up. But it lacks big sponsors behind the teams. Remember Group C, you had Rothmans, Martini, Canon, Silk Cut, Boss, AEG, Castrol, Shell etc. All looking for a return and marketing the races. nowadays the big buck sponsors have gone, either banned or in F1.
Fax, I don't often think you talking out your ring, but GF does know a thing or two about sports car racing, maybe even more than you.
Not sure what your grand idea would be, you never say but IMHO the WEC (which in reality is just a name) as a concept could work. it needs much better promotion and to rebuild interest in Europe before flying all round the world.
How you do that is to get drivers the general public have heard of, sponsors who invest not just in the team but also the races, get the top tracks interested, maybe have shorter 1hr races on a Saturday or big money sprint races like the old Norsring.