No.
There are plenty of family attractions in Ohio that people are able to do for a day. Zoos, museums, down here in Cincinnati and Dayton there's Scene75, sporting events, outdoor activities...I find it highly unlikely many families will begin to choose this overly hyped, and in my opinion, most likely underwhelming entertainment center that seems to be an oversized, as I mentioned before, Scene75. Kings Island and Cedar Point are still the go-to destinations for major trips around the area. This will be a mere blip on the radar, in which a parent will wake up one day and think "Hey, let's all go to Planet Oasis".
I may be pretty scathing on this development, but I really don't think it's going to be all that.
Edit: I am also getting annoyed by news headlines describing it as "an amusement park four times the size of Disneyland". It is not an amusement park. And it is no way anywhere in relation to Disneyland. Coney Island is more like Disneyland than this will be.