I know there is no such thing as perfect timing when your core existing gates are ready to accommodate a third. Sometimes I wonder though if the timing is still a little bit too early for this project.
I think we as fans see an additional gate as a means to an end - i.e. a massive bolus of new things. But, one of the things I think that has plagued WDW forever is that it really wasn't properly ready to handle 4 gates (or really even three at the time). Instead we've sat for decades with 3 gates with serious problems and a 4th with generalized overcrowding.
I cannot deny that there has not been some serious investment, especially recent times at USF. I sit back and question how much the park has meaningfully improved, even if things are new. Individually the things are 'better', but the overall menu has slowly degraded. Jaws and Disaster simply would have been better overall to stick around in slightly refresh forms at the behest of so many other newer things. On the docket we had/needed:
-An entire entrance refresh, Shrek ditched, probably Minions at this point as well
-Kidzone overhaul
-Fear Factor Theatre plot
IOA is in a much better state, but needs investment:
-Marvel attraction and overall land aesthetic refresh
-Complete Toon Lagoon replacement
-Jurassic Park attraction
-Complete Lost Continent redo
-Seuss attraction
I look at this list and think these are all the things delayed, on the back burner or completely cancelled. Things I wish were prioritized over trying to rush ahead of the competition. I'd almost in some ways rather a mid-late 2020's third gate without so much cannibalization of the existing parks.
Tokyo Disney is in a much better state overall with far more generous attendance than Universal Orlando. Instead of forging ahead with another dissociated gate they are instead doing the opposite and really dumping 'new park level money' into their existing gates.
Time will tell which is the healthier long term strategy. I just don't think it served WDW well other than being a talking point of 'we have more gates'. Yes... but 3 of them were in various states of broken or underinvested for most of their existence.
But... it's so hard to separate the excitement of that pure hit of new attractions and lands all at once from spreading out investment perhaps more wisely.