Bonifay's a good five hour drive to the Orlando/Tampa area depending on how much you're willing to speed on I-10/I-75. The location choice isn't going to compete with Orlando/Tampa. With where they are, the owners are going after the tourists already driving down to Panama City Beach or Destin, not the people who would be heading to the peninsula parks and beaches.
It could work. The nearest something similar would be Wild Adventures in Georgia, and they seem to be lasting well enough without the kind of already existing tourist base the Bonifay park would have, and the small marine parks and zoos in the Panhandle area are popular with both tourists and locals.
The down side is the weather. It can definitely get cool on January and February in these parts. We'll even get the odd snowflake every four years or so, even if it doesn't stick.