This is only my own personal experience and opinion, but what I liked about LCR was that after we had done the rounds of the bars and picked up the boys we wanted for the night, we could take the lot of us to LCR at 11pm/Midnight/ maybe even 1am and all have a meal while the entertainment was going on whether it was El Duo or Toi or they had a girl singing as well. We'd spend several thousand Baht (not difficult) whenever we did that and it was good business for them, as did many of the patrons and it was always busy.
Then they revamped the place and restricted the restaurant part to one side (closed off) - so our reason for going there was now defunct as we could either eat at the side with no entertainment or have entertainment with no food. El Duo left for pastures new and they got rid of Toi (who was maybe not the best singer in the world but a really nice guy and a familiar face). That left the girl and without being misogynistic, nobody was interested.
They killed it stone dead, it didn't just happen to them.
I hope the new format succeeds but if it's just a music/karaoke bar it would have limited appeal. Is there food?