Didn't somebody on here say that the Splash Mountain retheme stole the budget for a fourth version of Imagination?
The model in the Odyssey Pavilion of the Epcot "reimagining" shows Miguel's guitar by the Mexico Pavilion, and it shows the exterior of the Imagination Pavilion.
Clearly, those were two projects that were happening at one time for the New Epcot, but, then got cut. If they were still in the queue to happen, it wasn't going to happen for, at the very least, another 3 years.
And this happened way, way before the announcement of Splash's retheme.
Then with the pandemic, more cuts (or indefinite delays) were made: Poppins, 3-tiered Festival buildings, SSE retheme.
Splash's retheme budget could have just as easily come from the other cuts as from a not-really-happening-soon-at-all Imagination re-do. Or Imagination could have been cut to finance Harmonious, or repairing Wonder's roof four times over, or all the stuff that was supposed to happen for the 50th anniversary (of which a rethemed Imagination wouldn't have 'fit'). But now all budgets are pandemically tight.
But that's the history of any Imagination retheme: as Disney dithers over what exactly to do with Imagination, other projects ready to go keep cutting the line (according to insiders). If Splash 'stole' Imagination's budget, so did a lot of other projects in the past decade.