I don’t understand what you mean by wrong location. There is no such thing as a wrong location to give movement to that adds visual appeal.
A nicer alternative would've to build a Fountain of Nations replacement in the area of the Odyssey. Something permanent but designed to be nice looking. Heck, it could've interacted with the new show. Sort of like a secondary area for people to go so they could still see screens.
No one would be complaining about a purpose built, dynamic fountain in WSLagoon. That might actually be nice. What people are complaining about is water spouting out of overscaled show equipment, not designed to be see in the light, in a half assed attempt to mask the said oversized monsters that are spewing the water. It is laughable.
The Odyssey mostly is a waste of space and has been for a long time. They're at least using it for something now, although that will be relatively short-lived.
It's guest-facing and in too prominent a position to be so underutilized.
The funny thing is, WDI seemingly was originally thinking exactly along those lines... A showpiece fountain was important, but the Lagoon is the wrong place for it - rather, as this early art showed, the right place would have been a massively re-worked area between Future World and WS.
This was the kind of all-in reimagining Epcot needed... and in an area that has suffered from being a big empty space between two great halves since the beginning. Even if some of the specifics were questionable, this now abandoned concept art fit the right tone and feel for the core of the park.