The strongest draw I could see in UK arcades if there was a pinball ticket redemption machine with a big license. Likely being a ticket game it wouldn't be much cop rules-wise for the rest of us but I think that thin end of the wedge would help in the long run.
The fact remains that pinball has some appeal because it is a physical creation and is a game that exists with real objects - hence why toys are so important to pinball - while I don't think it'll ever reach the old popularity because arcades don't have their popularity, I don't think it'll ever vanish for good. In fact I'd say that pinball's already seen its absolute lowest point and the only way is up from here.
Funny you mention redemption pinball.
The arcade I visit (about once a month, it's about 45 minutes drive) to play pinball used to have redemption ticket dispensers on their pins which dispensed tickets until recently, the pin still shouts out 'TICKET' fairly regularly but no longer dispenses tickets. the dispensers were on Avengers hulk and Xmen wolverine. Hulk has been removed and replaced with woz a few years back, they have now added a Hobbit, none of the new machines got ticket dispensers.
Bit of a shame as i used to get a load of sweets for the drive home