Theoretically yes, but with fewer rides, the availability will sell out sooner
for eg. in Epcot, everyone will book Test Track at 7am.....TT availability will "sellout" in short order like old paper Fast Passes used to so people make sure they get on it................
Once it's gone (or even just a late afternoon return time), they will move onto Soarin or Frozen and they will sell out
So once you are able to book your second ride, theres a good chance only thing left will be spaceship earth but that standby time is only 20 mins so why did you buy Genie+ to begin with?
And this is AFTER GoG and Remy open, the 2 rides on BG or paid FP (whatever they are calling it)
Before GoG, TT will be part of that so the options are even fewer......... Epcot will have Remy and TT on paid FP and only have Soarin, Frozen and Spaceship earth on Genie+ until GOG opens
Will never work