I'm more inclined to believe that this backstory is going away but it doesn't have to necessarily. It makes just as little sense for him to be the owner of a Pier filled with Pixar characters than one with Disney characters.
I did like that they were using the Pier to subtlety suggest backstories of immigrants coming to California and starting businesses. The other one being the Italian family who owns Garden Grill and Boardwalk Pizza and Pasta.
It simply wasn't a fully fleshed out idea.
I agree the story will go away or will be shelved for now, which is a shame. Though it wasn't fully fleshed out, there was room for it to get grow. Maybe one day they will course correct. One can dream right?