Nice try at the black and white logical fallacy but no, of course they will continue to do projects all over the place regardless, but they should at minimum be making a decent effort to plus up and expand WDW, and the most visited park on earth, before embarking on an entire new park imo. Also, let's not forget they are boasting that this new park will have the best technology out of all of their parks, which definitely means they do not see any path forward to making the most visited park and theme park resort destination on earth anywhere close to competing with this park...
Lets break down this.
Disney has already announced prior to the new UAE resort billions in spending on domestic parks, including multiple WDW specific projects. So while neither WDW nor anyone else cares what your subjective opinion is on decent effort, objectively they are making efforts to invest in WDW.
As to your second, i won't say point but sentence, yes in a press statement about the the UAE park, in front of people that are investing $10B into this project if reports are to be believed, they played up the fact that this park will have the newest/best technology. SHOCKER. I mean seriously what did you think they were going to say, "oh yeah we got someone to invest 10B into a park, and pay us handsomely for licensing, branding, design, and its going to be the latest park built from scratch, but the tech's going to be so so? The UAE is footing the bill for construction, and if you haven't ever been to Dubai or Abu Dhabi, let me tell you they don't 1) spare any expense 2) skimp on technology.
As to you last bit of absurdity, no no one on the planet thinks that its anyone's business model that WDW is going to compete with Disney AD. Disney has no thoughts on having any of its parks competing with each other. That's not the point of the business model. The parks are not meant to be competing with each other for guests, cannibalizing customers. They are meant to be complimentary of each other to maximize revenue, and provide different offerings. Second, how do you think the business relationship would have been established if the idea was UAE was going to invest 10B, and pay Disney design and licensing fees....only for Disney to be actively competing against the park?
Finally, as you mention WDW is the most visited park in the world. UAE is not looking for such a park at this time. The customer base with easy access to the UAE market isn't there yet. The UAE park is going to be a high end spectacle, that is going to be as much of a status symbol/showcase, as it is a tourist destination. YOU can expect more extravagance and such at that park, as opposed to the main stream large availability of the WDW parks. Its going to be a place we (and i assume the remainder of the US demographic) visit maybe when traveling to the area on business, or as a once/twice in a lifetime type trip. Its not going to be competing for the average US customer base.