Sure. Governments have wide discretion. But that discretion is not unlimited, especially when it comes to retaliation or chilling speech. That was the core of Disney’s federal case. Not that the state created a new board, but that it did so in direct response to protected speech.
And as for “not broadcasting intent,” that ship already sailed. The governor said the quiet part out loud more than once. So did his spokespeople. So did board members. The record is full of quotes that connect the state’s actions to Disney’s public stance on legislation. You do not need to infer much when the motivation was publicly declared.
If the board makes a move that disrupts active development without solid legal basis, Disney will not need to connect it to years-old actions. They will just need to quote what was said in front of cameras last year.