Nooo. I love the Treehouse, especially around dusk.It's not a bad right (not a great ride, either). If they just moved it out of the main path and off to the side somewhere it'd work.
They could move it to that little island that the Swiss Family Treehouse sits on (I think I'm the only one that likes it - still I won't miss it) or move it off to the NW section by Pirates. It looks like it'd fit there. Then the flow of people can work in that area once again.