I could see Zelena doing something that eliminated Regina, but it would have to be something more involved than just changing that one fact of Regina’s birth and thus altering history and creating an AU. If Hook’s a straight up, well bred gentleman in this version, like his costume might suggest, that means no pirate, no Milah, no Hook, no NL, so he shouldn’t be alive to be able to interact with everyone else because he lived a couple of centuries beforehand.
I could see it if Zelena cast a curse that created a new FTL reality in present day though, in which peoples’ status got swapped around, meaning that Zelena’s probably Queen and Regina’s a peasant in some far away land, like Zelena was in Oz.
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