Well, I'd scarcely be able to think of any single shipboard component that couldn't be made more efficient, more reliable, better performing, etc. with an unlimited weight and volume budget. If I might rephrase a fairly off-the-cuff comment, the giant drum always seemed somewhat implausible to me under the NATO TACAN paradigm. A duplex-communication system is always going to scale more slowly than a primary radar (something like R^2 rather than something like R^4), and one can be sure that a steep price was paid to put such a large object so high in the superstructure. Surely this price must have bought an important capability, one that could not be nearly achieved by something much smaller (like the ubiquitous
URN-3 (PDF warning) of the 1950s). And even then, by such an early date as 1950 I can't imagine that very much equipment would need to be collocated with the antennas, whatever those might have been. As for antenna size, the system seems to dwarf even a civilian VOR/DME station, which has far less demanding size limitations. It's difficult to imagine why a secondary radar antenna should ever need to be so big at any reasonable frequency.
Now, I don't mean to suggest that the giant drum doesn't perform a similar mission to what we know as TACAN, but it does make a great deal more sense to me that it incorporates, in part, a primary radar for flight control.