Like the point earlier, I wonder if this will end up being seen as virtue signaling in retrospect. With no announced Splash closing and a pretty sure severe downturn in business coming, Disney has set them self up pretty well to never do this. Once attendance tanks, they can quietly not mention it, and if anyone asks, they can just say "With the current economical situation all new projects are on hold. We will let you know once things improve and we are able to schedule the re-theme". The other thought is that the economic downturn could end up turning this into a bottom dollar retheme with just changing what they have to and projection mapping the rest.
Not saying that's their plan here, but we know Disney's history of cancelling projects, and they have a perfect excuse to start cancelling things.