If true, the new Kid Flash may be intended as an alternative family ride to replace it. Although I have heard no confirmation either, removing the Joker FHC would indeed open up some prime real estate. But I hope not as this would come at the cost of SFoG history if the remnants of the original Spanish Fort are removed.
On a side note, I hope our park installs a splash pad / mini water play area or a heavy misting zone in the dry park similar to what SFoT; STStl, and others have. With Hurricane Harbor being an add-on for some guests, not to mention limited hours and a long inconvenient walk to the back of the park, options for getting wet and cooling off are very limited. Maybe the park can add such a feature near (the presumed) Ultra Surf attraction.