They clearly don’t value loyal guests (APs).
To be fair to Disney, why would they "value" AP guests over any other guest? And full disclosure, I am asking as someone that both held an AP (up until the pandemic) and also someone that purchased DVC. For example, I know full well Disney values me
less as a guest
because I have a DVC. I'm locked in - they have my revenue up-front for my hotel stays - they don't need to bother enticing me to stay or offer me great perks. The only reason DVC offer perks (e.g. member lounge) is purely to entice new purchases - not to benefit existing members because we are 'valued'. I can't say that makes me feel warm and fuzzy inside, but Disney is a business and that's just how it works. Guests paying cash for their hotel stay often get offers and perks that I don't - such as
free dining - because they are more valuable guests to Disney - because they
pay more.
An Annual Pass is a massively discounted ticket at the end of the day. We get more for less. There is no "loyalty" on either side, ours or theirs. You buy an AP because you want to go to the park on multiple occasions in a year, and its a cheaper ticket option than daily tickets (or, indeed, you wouldn't bother going at all if you were forced to buy day-tickets - i.e. there is no loyalty). We all get grouped into a general guest category - i.e. an AP holder. And each category will have have a different dollar value to Disney. That, quite simply, is how they determine who they value. For example, an average UK guest who visits once a year is likely to be worth
substantially more than an average AP holder. And that's precisely why UK guests have access to some of the cheapest tickets worldwide - because they typically spend spend spend - non-discounted merchandise, dining, ticketed events, and so on; they vacation for longer and plan well in advance - so nice a predictable revenue up front. That's also why UK guests can typically book well before U.S. guests (or at least, could before the Pandemic - a full 2 years ahead, vs the 499 days in the U.S.).
Disney would rather fill up its park capacity with those guests who provide the most dollar and then fill any space left over with those who bring in the least revenue (APs). Unfortunately, you need to ditch the idea of any loyalty - it has never been there. They would get rid of Passholders if they could - but the fact is they cannot (yet) fill a park to capacity with package-vacation guests and day-ticket guests. If they ever get to that point, then APs will be gone completely.
This does not mean they don't care about guest experience - i.e. the Warren Buffet quote above ("
If a company is managed only for the bottom line, sooner or later that company will not have a bottom line"). This is about filling the park up with the most profitable guests (which in turn,
could mean a better experience, lower crowds, etc).