Dolly may own 3% or so outright, but the Dollywood company that is in partnership with HFEC to run the place owns something like 51% I thought. Not sure what the split of things is anymore, and this is only my impression from vague third party info I've heard over the years, but I thought that when DW was created out of SDC Tennessee, they basically sold most of the operation to the Dollywood Company that was created at the time to kind of represent Dolly's interests and market her brand through the park. HFEC obviously kept a large percentage and is the operator of the park, but they don't own it outright. Who knows how things have shifted through the years.
Point remains though, DW is themed to Dolly Parton and SDC is supposed to be themed to a fictional version of Marmaros. That theme has been diluted heavily with things like Wildfire and Time Traveler that are totally made up and not even tied into historical elements, but the overall idea is still there. I am hopeful that the new FITH will bring back the "city" emphasis a bit more instead of random crazy adventures and inventions.