I think kind of like the RH/RQ/tamara-daddy thing, that it’s not likely to be both, that Ursula is Regina and Eric is Hook. Wouldn’t that be too messy for them, especially on top of teasing CS?
That makes me feel like it might go the other way, instead of Hookriel, they’re doing QueenEric or whatever nickname you have, as an actual triangle with Ariel. I’m not as excited about this idea for many reasons.
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“If I had a world of my own, everything would be nonsense. Nothing would be what it is, because everything would be what it isn't. And contrary wise, what is, it wouldn't be. And what it wouldn't be, it would. You see?” -- Lewis Carroll, Alice's Adventures in Wonderland & Through the Looking-Glass