"That’s the dilemma it faces," Hughes said. "[But] if you fail in a relationship, you've got to put the trust back in it and be as open and honest as possible.

"I went on that log ride probably three of four times when I was a kid, and not once did I think I was in any danger."

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On the afternoon of October 25, 2016, Sydney mother Cindy Low, along with Canberra mother Kate Goodchild, her brother, Luke Dorsett, and his partner, Roozi Araghi, climbed into one of the rafts that made up the family-friendly Thunder River Rapids ride.

Although the ride was not without its challenges for operators, or without previous faults and errors, the four visitors would not have been concerned.

But tragedy struck that day when their raft collided with an empty one at the end of the ride's conveyor belt and flipped. All four were killed, while two children on board survived.

An outpouring of grief and horror followed that such an event could occur at the country's largest theme park. Dreamworld and the adjoining WhiteWater World were closed for 45 days while investigations and safety checks were carried out.

Ardent Leisure, the parent company of both, saw its share price dive.

A lengthy inquest in 2018 heard a litany of evidence as to how the incident could happen. Photos were tendered of a "frightening" event in 2001 in which four empty rafts collided, while the inquest also heard that two water pumps failed just hours before the tragedy.

When findings outlining "systemic failure" were released in February after an annual report that showed some green shoots, the company share price was sent into further freefall, which continued – to a low of just 11 cents – as the effects of COVID-19 began to bite.

Tens of millions of dollars had already been written off the parks' value in the previous years amid efforts to overhaul safety systems and expand attractions.

Then on March 23 – less than a month after Coroner James McDougall handed down his final scathing report, and just three days after Prime Minister Scott Morrison barred entry to the country to all but citizens and residents over COVID-19 – the park gates closed again, this time alongside many others.

A recommendation from McDougall that Queensland's Office of Industrial Relations consider prosecuting Ardent Leisure was a further, if expected, blow.

The independent prosecutor laid three criminal charges this week – each carrying a maximum penalty of $1.5 million – alleging the company exposed people to the "risk of serious injury or death".

Numerous safety changes have now been made since the fatal malfunction, which the company maintains would prevent such tragedies from occurring again.

But the company faces more legal action than just those charges. Shareholders alleging breaches of the Corporations Act, which are "strongly denied", launched a class action in June. Court dates for both are set down for the coming week.

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Both the public and the broader theme park sector were rocked by the Dreamworld deaths.

"This tragedy shocked every Australian and reduced public confidence in amusement rides," Australian Amusement, Leisure and Recreation Association president Shane McGrath said.

The peak body would work with the Queensland government to overhaul regulations, bringing in mandatory inspections for rides and strengthening operator training requirements. Expertise from the aviation industry has since been employed by the park.

"Incidents such as these are not common," McGrath said. (The likelihood of being seriously injured on a fixed ride in the United States is 1 in 18 million, research from the International Association of Amusement Parks and Attractions shows.)

And like most other industries, the global creep of COVID-19 has battered Australia's theme parks. One recent survey of AALARA members found 97.5 per cent had gone into hibernation.

"Prior to this public health crisis, $1 million of investment in new rides and attractions had been announced for Queensland's theme parks," McGrath said. "Unfortunately, these difficult circumstances create new challenges."

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What comes next for Dreamworld is, in part, tied to the pandemic.

Comment was sought from the park, though a staged reopening with WhiteWater World in time for the September holiday period has been flagged.

As for the question of its reputational recovery, ANU lecturer Hughes believes the focus should be on rebuilding.

"It's got a lot of negative connotations with its brand," he said. But theme parks do have an advantage. "We've got a past experience with them, and that past experience is usually positive."

Hughes pointed to Sydney's Luna Park, itself struck by a fatal ride tragedy back in the 1970s. "They do recover over time," he said.

In a statement after the coroner's report was handed down, Ardent Leisure told the ASX it would construct a memorial garden at Dreamworld to "honour the memory of everyone affected", with input from the victims' families.

This could be done at the site of the now-decommissioned ride itself, Hughes said. The park could also seek to make its independent safety reports public.

"If they don't get it right, a lot of people will say, 'what do you really stand for?'" he added. "The emphasis post-COVID will be all about money … but the last thing they want to do is get sucked into all of that.

"They should, going forward, be conscious that it will be in people's minds for a lot longer."

Speaking to Nine News after the criminal charges were laid this week, Kim Dorsett, the mother of Ms Goodchild and Mr Dorsett, said she just hoped the park would be held accountable.

"It doesn't change the daily problems of trying to get through each day, each birthday, anniversary, Mother's Day, Christmas – that goes on forever," she said.

"It's four people who lost their lives and [the potential fine] doesn't change that fact, or give those children back their mothers."