No, rather, it's just as ready as it was before the media event. Disney can tell the media to hold on to the lap bar and they'll listen. Guests won't. They were given stern instructions not to raise their arms on the ride.
So, until we see them removing rock work, patching it up, and repainting, I wouldn't expect a soft opening. There's a reason why it's grand opening May 28. I would advise everyone not to assume anything until you see someone ride with their arms up.