Does meeting Maleficent, Cruella, Queen of Hearts, Evil Queen count as 1 or 4?
I don't remember them being regulars included in admission -- more like randoms you might happen to run into on any given day, just like many other characters. But if you want to say that more random and varied character interactions have been replaced with more specific and structured M&Gs, I guess that's fair. And if you want to say that some of those random interactions have been replaced with character dining or party events, I guess that's fair, too.
But you'd also have to say that in place of those random events, WDW has allowed families the chance to guarantee meeting Belle, Ariel, Cinderella, Tiana, Rapunzel, Snow White, Aurora and Merida (unless they've already replaced her with the new one), and still offers chance to meet Gaston, Woody, Buzz, Peter Pan, Alice for random M&Gs, in addition to the big four. It doesn't seem as though the things you get for your admission have been replaced by pay events; the characters may have been traded, but not reduced. Or at least not reduced in order to get you to a pay event.