Definitely, Las Vegas needs a link to the airport either by monorail or LRT.
And just in general to get around.
The questions have to be, would it go right up and down the Strip? Would it replace the monorail or run in addition to it? Because the monorail now runs behind the hotels on the east side of the Strip, it is useless to those west of it. Either another monorail is needed for the west side, or a light rail line (probably New Orleans streetcar style given the number of stops) in the median of Las Vegas Blvd. could make both monorails a moot point.
But if it's also going to the airport, downtown, and other outlying areas, light rail is probably better than streetcar.