Not if they end up using that space for something that's not so terrible.
I'd rather have it sit empty for another 3 or 4 years before eventually getting something decent than getting the Play Pavilion, because once it's there it'll be there for a long time. 10-15 years at least and likely longer.
@marni1971 I know you said you've basically lost interest in Disney World (completely understandable), but do you know if this is still supposed to happen or if they've maybe cancelled it considering it's no longer mentioned anywhere? Or
@Magic Feather?
EDIT: Considering the Play flag is now up at EPCOT, I think it's safe to say this isn't cancelled.