I think this is something of an inside joke at WDW.
Robin Williams, as everybody knows, provided the voice of the Genie.
But Robin Williams also stars in the wonderful film, with Walter Cronkite, that plays during the Animation Tour in MGM. And in that film, Robin is wearing a loud Hawiian shirt and carrying an old Brownie camera with a look-down viewfinder, which he uses to snap a pic of Walter. The match-up is not exact, but it's close
Of course, in the final scene of Aladdin, the Genie is also shown wearing the same loud Hawaiian shirt and carrying the same camera that he is in the statue at Downtown Disney.
But no matter what the inspiration for the statue, it's cool and makes a great mascot for this board.
Phenomenal, cosmic power!
Itty-bitty living space...