I wouldn't put it like that.
It depends on what you believe Disney is actually catching up to.
If we're talking about certain trends like merchandise/food/theme integration and general momentum in general, yes, Disney is having to "catch up", though I think "following suit" is probably a better phrase.
Not at all true.
While all Disney parks still lead Universal's raw numbers (or at least, has up until next full calendar year) there have been a number of sources who say that data indicates that a lot of families, especially Brits, have actually been giving Universal a much greater share of their souvenir and merch dollars than they do Disney. Dervish and Banges and Filch's have been getting the first, largest slice of that pie and it's been a license to print money for Universal.