Even if Song of the South is racist (and how can you judge that when no one can watch the movie today?) how on earth is Splash Mountain "racist"? It's all animals!
But besides that, my biggest concern is that they will ruin a great ride. First of all if they close the ride for a year or more, that's less capacity at the MK, and it's the only water ride on hot days. Second, the retheme could be a big disappointment. How are they going to match the greatness of the ride as it is now? Daunting task. My biggest dread would be if they replace the AAs with screens. How are they going to replace all those AAs anyway? Developing new AAs is a huge task, so I feel like we're likely to get short changed.