We assume so.But Splash was closed for social justice and social justice is the will of the people, right?
BUT... Disney never officially stated there was anything wrong with Splash Mountain. Instead, they wisely avoiding dissing it and instead just talked about how great PatF would be the new IP.
Even if there weren't race politics involved, there's always people who like something which is going away and are sad it's going away. You don't alienate them be telling them how awful the thing was.
Disney never publicly bashed Harmonious or Disney Enchantment. Nor do they bash any movie to TV show that underperforms. Unless its a meek and passive "mistakes were made."
The closest you can get on record WRT Splash is Iger mentioning years ago in response to a question about releasing SotS from the vault is that the movie was racist and won't be released.
That line was never repeated WRT Splash being rethemed. Only that Tiana being there instead would be great.