I wouldn't mind Dudley getting the full axe, but Popeye's would be a damn shame. It's such a great rapids ride. I know Universal was flirting with Smurfs, which is Sony Pictures Animation. If they could scoop up "Cloudy with a Chance of Meatballs", that would make for a hilarious and awesome rapids ride. SPA also comes with Hotel Tranyslvania, which lends itself to a dark ride much like SLoP, so I'm not sure what they can do with that, but it's something.
Either way one of the two needs to stay, and rapids would make the most sense regarding its awkward "on the lagoon" location. Plus even though it's a problem having all the water rides back there, it would be pretty foolish for Universal to scrap both and leave JPRA as the only soaker in the resort. I know Volcano Bay will exist by then, but of course people wouldn't hop back and forth... or well, they shouldn't.