Yeah prior to its big 2013 refurb, Splash Mountain was quite literally falling apart. Big thread for it a while back-
http://forums.wdwmagic.com/threads/splash-mountain-falling-apart-literally.855607/
Besides the numerous animatronics not moving, dirt and mold everywhere and a serious paint job being needed desperately, the rockwork started crumbling and falling apart. It was already noticeable in the final lift hill with all the leaks happening in the roof, but the final straw was some concrete pieces falling in the queue area. That prompted tarps to be set up in the load area (which probably wouldn't have done much to stop a big chunk whatsoever). And not long after a major refurbishment was approved and carried out. Thankfully the refurb seems to have been a big success, and there was another refurb a couple of months back that also seems to have helped some of the water effects in the laughing place.
It hasn't looked this good in a long time apparently, people who have ridden it since the refurb (I haven't had the chance) have said it looks great and videos seem to indicate it's being kept in pretty good shape so far. But we'll give it a year or two and see how it looks then. One hopes they see fit to keep it in good condition this time instead of letting it rot away and fall apart like they did. Though with MM+ eating away at the company's profits, it's a concern that they'll just slash maintenance even more to try to cover costs. Not to mention the Dwarf coaster is already having issues with its AAs...