Everybody who enters the parks spends money. On days when the parks will reach capacity, there's logic in favoring those who are bigger spenders. I'm not necessarily saying that it's right to de-emphasize APs in the manner Disney has, but I do see the logic behind it.
Post-Christmas, we're entering a period where the parks are not looking as busy. Right now, the only days with any capacity restrictions tomorrow and Saturday. That's it..for all of 2023. If attendance is headed for a softer period over the next few months, it could certainly pave the way for Disney changing its minds on APs.
I'm wading into shark-infested waters here but I'll give it a shot.
IMO, one of the big differences between Universal parks and Disney Parks is the ratio of guests to attractions. The two Universal parks have more rides than either Epcot or Animal Kingdom. Probably more than Hollywood Studios. But those 5 parks draw about the same number of guests annually (about 11-12 million pre-covid.) So apples-to-apples, you're probably going to have shorter waits at USO or IOA, especially if using their express pass which is much more efficient than any of Disney's comparable offerings due to the relative scarcity.
Magic Kingdom has a few more rides than either Universal park, but before Covid it was drawing almost twice as many visitors per year (21 million.)
With more guests (proportionately) at each of the Disney Parks, longer lines are bound to result. So if you're Disney, how to you address this:
1) Raise prices: higher prices should reduce demand. (But they also tend to raise expectations and can prove frustrating to your core customers.)
2) Attendance limits: if you explicitly block people from entering the park, it helps those who do get in. This is literally Park Pass.
3) Not selling APs: another deliberate attempt to reduce the crowds on any given day
4) Increase staffing: Disney has been trying hard to staff-up since the pandemic began to subside; it's unclear to me if what we see today is exacerbated by Disney deliberately under-staffing parks or if they simply don't have the workers. Chapek is to blame for laying people off. But at the time the government was handing out extra unemployment benefits, there was no Covid vaccine and still no clear understanding of how far away we were from "normal." The parks were open, but people weren't traveling and government restrictions limited Disney's operations.
5) Build more attractions: Let's hope!

Biggest failure of the Chapek regime, IMO.
At risk of offending the Universal fans, let's be blunt: Universal has no attendance caps, low AP prices and moderate wait times. They'd LOVE to add another 20-30% to their annual guest counts, which would lead to longer lines for everyone. But the business just isn't there.
Meanwhile, Disney still has a lot of business in spite of the higher prices, attendance limits, paid Genie, etc. And they seem to be trying to find the right formula to manage that business so everyone isn't left suffering.
I'm not saying Universal is bad. By all means, GO to their parks if it's a better experience. I just think Disney and US face different challenges right now. It's certainly more complicated than "be like Universal." Lifting attendance restrictions and freely selling APs at lower prices won't improve anything at WDW.