I'm sure this was touched on earlier in the thread, but I'm shocked that Universal is calling this their third theme park. I always assumed the water theme park moniker was similar to WWoHP's "theme park inside a theme park" thing - poorly phrased hyperbole.
But, people are going to be expecting to treat this like the other two parks, even if it's a lot smaller. The more I read about this, the more I think that Volcano Bay is going to be Universal's Discovery Cove. I think it'll cost a lot more than people think and have a much smaller capacity than people think. But, the food, service, and relative peace will make the experience worth it for those that can afford it.