As one of those "screen detractors" (and it's not all screens, for example the hitchhiking ghost "screens" are terrific), the fact that the screens can be switched from Davy Jones to Blackbeard doesn't really make me feel any better about it. I ask the question that I generally ask whenever something is changed/added to a ride: Why is that there?
Why is that particular projection there? Is it there because for story purposes it makes sense? Or simply because it was cheap to do?
In this instance (as with the Davy Jones original projection), I think the answer is they did it because they could and because it was cheap. I fail to see why, for story purposes, a projection of Blackbeard would just appear randomly on a waterfall. Now, not having seen the movie, maybe that's his "super power" or something, but for now, it just doesn't make sense to me. Is it the end of the world? No, of course not. But when they make changes to classic attractions, I prefer these changes make sense to the story first.