I don't mind it. When Paradise Pier first opened it was one of those things that you smiled at but always felt a bit odd with the carnival games that were fairly random save the prizes. At least theming it to Pixar brings together TSMM and gives it a land styling.
I'm guessing Little Mermaid moves to Pacific Wharf on the park map. And all of the PP flat rides get overlays yet again. Including Mickeys Fun wheel. This one is confusing because Is kind of become the park icon especially since WOC.
Paradise Pier has been rumored to get an overhaul for quite some time now. The theme was just up in the air, keep current or something new. So while the theming might have been out of left field, though you can say with TSMM it was not a huge leap, the overhaul is not.