Why not? (Not trying to start a Disney vs Universal argument.) Just interested in knowing why. I know that Universal isn't for everybody, but it seems like this park is going to be their closest attempt at offering very similar attraction experiences to Disney.
I would certainly hope not. Universal is at their best when innovating, not just copying Disney. But I've seen no reason to believe the latter is their intention.
The current parks already have, on average, more attractions than Disney's. Could they still be improved? Certainly, but they're lacking in room to expand and you're not going to fit an entire third park's worth of content into their problem areas. So while their potential may not be maximized, it's not like they're opening another half-day park with two such incomplete parks already in their inventory. As far as actual expansion goes, and not just replacing what isn't working anymore, now is as good a time as any to build a third park. Especially given the space this can free up at the Studios with the relocation of backstage facilities.
I don't consider all of the IP choices for Epic Universe to be optimal by any means, but if their being there is what it takes to get a whole new park open, then so be it. We've already seen in the past that Universal isn't shy about replacing entire lands if they believe they've found a better use for the space, so I'm not that concerned if something like HTTYD doesn't take off (maybe they'll turn it into the more generalized Dreamworks land I believe it should be.) But my immediate concern is the quality of the product, not how hyped I am for the IPs they chose.
And yes, they're going to continue spreading out the wizarding IP amongst each park, because it brings in the extra $$$, but it won't be the only IP they use this strategy with. Disney has done the same thing, just on a smaller scale.