RC is gone for good, unless one of the water parks inexplicably disappears from the earth.
One issue is attendance.WDW feels that two large water parks are more than enough for them, and the two newest, highest thrill parks are the ones to stay.
Also, I had heard once about a bacteria problem in RC because the barrier that keeps the lake water out of RC was too difficult to maintain. Further, I think RC had a smaller capacity than the other two water parks. Either way, RC is gone for good.
I'll REALLY miss RC.