For one, I don't think it's possible in America. We're too spread out to keep enough traffic to make it sustainable outside of major cities. All the arcades around me died out because they can't maintain the traffic. Some of these places even tried to put bowling and go-karts in that bytch AND STILL died.
But.... take Next Level NYC for example, they cater to fighting games so you need to pick a lane to go after and stick with them. I think that's probably the only way it would work. Also, Next Level only opens on select days I believe.
I'd cater to millennials. Gen Z is too accustomed to having online play with people, Arcades thrive on nostalgia. Bring in some of those old multiplayer titles like X-MEN and The Simpsons, TMNT, shyt like that.
Now that I think of it, my idea would just end up being like Dave and Busters with older games.