Hopefully not - Universal really need to stop replacing attractions - especially when they have the space, and need more attractions in KidZone in order to get away from the "Universal has nothing for my kids" stereotype. And isn't E.T the last opening day attraction?
MK Fantasyland will have 12 attractions (not M&G) when SDMC is finished. KidZone has 6.
Looking at the land behind Curious George/MIB, you could nearly fit KidZone in again if you could use all the land - so if KidZone could get close to 12 attractions as well, then that should go some way to stopping that stereotype (it won't do it completely, but it could put it ahead of the non-MK Disney parks) - that's one of the reasons why I think instead of removing Shrek 4D, they should just move it into KidZone - it's not that large, if they're completely changing the attraction anyway they could possibly reuse the screen/seats - and it adds an extra attraction to the park!)