This might end well for Disney. This provides a different marketing angle to bring in younger people to Disney. The filters will block a lot of the sexual violence content. The original cartoons are deemed racist by some so this won't open a door already opened.
But it is another circular investment to throw on the AI bubble pile.
If just the news of the deal boosts Disney stock enough to pay for the deal, then yes. Or if it boosts OpenAI valuation because they now have Disney IP enough to pay off on Disney's investment, it is basically Disney producing content indirectly.
But it is another circular investment to throw on the AI bubble pile.