Owakudani (currently closed off) is certainly one of the major highlights of Hakone. And the best portion of Hakone Ropeway is currently closed. That said, there are many other highlights in Hakone. Hakone means different things to different people, but most people go there to enjoy onsen, R&R, nature (hiking, scenery, ambiance) and art/museums. Hakone is pretty much business as usual except for the aforementioned areas. On many of my trips to Hakone, I just stay in the lower part of Hakone and I still thoroughly enjoy my time there.