Yes, it closed well-before EE opened in 2006 - it was closed by the end of 2002.
I believe he was referring to it as a "copy" - as USF was unique in that it had a dedicated Kong attraction, a segment already had existed as part of USH's Studio Tour since 1986 (which is the one that burned down in 2008, leading to the new Kong attraction to be developed).
The relation to the Yeti is funny, as originally, the Yeti was supposedly to be in the center of the mountain, and you would come closer to interacting with him with the ride vehicle there. It was believed to be too similar to the encounter in Kongfrontation, so it was scrapped - though as we have pointed out (a bit ironically) Kongfrontation ended up gone long before EE was actually opened/completed.
I've always said that was the true mistake of the ride - as someone mentioned a few posts ago, the Yeti is just in a terrible position to begin with, even in A-mode it didn't have nearly the impact it could have had due to the speed of the train and timing issues with that spot. It really could have been impressive if they had gone with that first idea to have him front and center.