A compromise would allow Disney to keep the arrangement largely in place with a few modifications.

This is just pissing and calling it rain. The dissolution of the Reedy Creek project was never going to result in Disney losing their land, or really anything special happening other than them losing the wacky and unique things they had above and beyond what every other special district has. The new Reedy Creek agreement was only ever a few forms and about a year away for Disney.

Special districts in Florida are common but what Disney had was insanely uncommon. Walt Disney himself negotiated that agreement with the state which understood and expected him to be building Tomorrowland there. It was supposed to be a completely functional and highly futuristic planned city. Instead after some years and near bankruptcy the company decided to make the sequel to the California theme park instead.

Other theme parks in Florida work and operate as special districts. Suburbs and subdivisions operate as special districts. They are common things. What Disney had was a blank check that had been considered for repeal and replacement many times over the decades. This was merely the moment when Disney pissed everyone off just enough to crystalize the political will to yank it.

What they will get back will be called Reedy Creek, but it will be a new special district that aligns with the current standards of what a special district is and can be, and not its own special law just for them. This was always going to be what was going to happen, unless Disney and their sycophants tried to go scorched earth over it.