If you assume that every guest-day at a Disney park in Texas represents one fewer guest-day at a park at WDW and DLR, then, yes, a Texas park makes no business sense.
However, if you assume that a Disney park in Texas could generate a lot of additional business for Disney, then a Disney theme park in Texas could make business sense after all.
Nobody suggests closing the
Disneyland Resort because, "why go to WDW when there is one in California?" The two geographic location in the U.S. each hold their own, and the time may come when a third geographic location can hold its own, even accounting for its effect on the existing parks.
A well-located Disney theme park in Texas would be a local visit or a few hours drive for most residents of the state. The population of Texas is more than 25 million -- and growing. There's a potential for visits by millions of Texans, many of whom now seldom or ever travel to WDW or DLR. They would represent "net new" business to Disney.
On top of that, a new park would draw existing Disney fans from all over North America (including Mexico), especially if the park offers many experiences not found at WDW and DLR.
Yes, a Texas Disney park would cannibalize WDW and DLR to some extent, especially in the first few years. But, in the longer run, the park would whet the appetite of Texans and others to plans trips to WDW and DLR.
Undoubtedly, the financial wizards at Disney have run the numbers for Texas, but, based on the assumptions input into the model, have been unable to create a compelling business case so far. Maybe that will change some day; maybe not.
However, to say that there's "zero chance" of a Disney park EVER being built in Texas makes as much as someone in the early 1960s saying there will never be a second Disney park anywhere in the United States because it would only draw guests away from Disneyland.
Although the rumor that started this thread referenced is an April Fools Joke, that doesn't mean there's "zero chance" in the future.
