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It wouldn't work as the groups will choose whatever path is easiest/most efficient. GW2 had a multiple path dungeon system as well and in every single one the group always picked the fastest path without exception. I am fine with a randomly generated dungeon layout each time, but multiple paths? I think it would be a waste of time.
To quickly add, rather than editing my old post: If the entire party consists of players who have already beaten the dungeon, a randomly generated path could lead to a different final boss (slightly harder than the original, but only by a little. For HM dungeons, it could be the dungeons original final boss. So for Pharos Sirius, it could be "The Siren's Remnant" or something).
Lord of the ring online had some good dungeon and raid level design back in the days, like carn dum that was an interesting dungeon :)