This is a good restaurant, and one I would be saddened to see it become another character experience. Also, Disney has proven it has no idea how to do a Steakhouse. There is no Steakhouse on property that comes close to the level of the major high-end chains, while charging the same or more (I mean Capital Grille, Morton's, Ruth's Chris, Sullivan's, etc, for reference).
I have no evidence or facts, but why I believe this won't happen - the convention center. The Wave is interesting to business travelers.... Decent food, drinks, bar.... A "Character" steakhouse is not. The contemporary's convention center traffic should ensure that the Wave is safe, or Disney will lose a lot of revenue to convention travelers taking Ubers to a local option... or Schula's if they don't want to leave property.