Guys, HBO/HBO Max isn't cancelling everything. What they are doing is something that hurts now for some fans, but will pay in the long run. WBD is getting rid of shows that don't "pierce the zeitgeist" as they said the other day. Kids programming is being cut down.
And yes, there will be layoffs, but that layoffs are because they essentially have three services with tech/backend workers that are doing the same exact thing that their new combined service will do. Those three being HBO (Linear channel), HBO Max, and Discovery+. By combining the services and bringing the shrinking the backend staff from its current bloated state, they think they can save $3 Billion per YEAR.
Now, the one thing Zaslav did mention that relates potentially to Evil Dead Rise is that he made it clear that original films on HBO Max are never happening again because he can't monetize those. So, Evil Dead Rise will either be promoted to theatrical or sold off to another streamer such as Netflix. It won't get buried because WBD doesn't own Evil Dead, it's a franchise that's been around the block quite a bit. But not only that, as
@belloq87 said, Raimi is one of the Production Companies on the film so even if WB drops it, it still is his film.
If I had to guess, i'd say some of their original films may get released to HBO Max, but most will get sold elsewhere or promoted to theaters if they think it has appeal (and if the Evil Dead movie is literally any good, I think that's a movie to put in theaters.