LOL, the water parks would be lucky to make a profit let alone subside the company.
Summer 2001, we stayed at the Contemporary. The main pool was closed (the basic pool is demolished and remade into what we see today) so they offered guests free admission to River Country. We took advantage and despite free admission to Contemporary guests, nearly free admission to FW guests and deeply discounted admission to other Disney resort guests, the park was nearly empty… in peak summer. Despite a massive Goofy themed promotion/ overly.
Reputable sources later reported that Disney was leaning toward closing the park even before the 9/11 attacks.
Meanwhile, on DISBoards 10-20 years later, users reported that RC was so crowed in 2001 that guests were regularly turned away, and the only reason Disney closed it was to jack prices at TL and BB. Even though discounts at those parks were stronger than ever.
Reality check: most top hotels, including Disney’s, have far more elaborate pool complexes than they did in 1995. Additional, water parks have sprung up around the country since then featuring more thrilling rides (made by the same people who did Disney) that are more frequently updated. Alas, the demand isn’t what it once was.