Funds are low right now...what would you do?
1) Go to Disney this year anyway, but be on a tight budget.
2) Don't vacation this year, and start saving now to stay deluxe in 2 years.
I would go next year.
Frugal really is only fun if that is something you purpose to do in life. If you are doing it to make something fit where it really doesn't fit--then one feels like they are missing out and risks blowing the budget anyway.
If squeaking the trip in means that you are traveling in a completely different manner than you are accustomed, I would certainly not go.
By experience--I know that I will covet at least one sit down restaurant. Happened one weekend we stayed at AKL (we are DVC).
I know that I won't miss breakfasts--we are a snack type breakfast family for the most part. So I can stuff granola bars in my suitcase and be perfectly fine with that plan.
I know that doing constant meal sharing doesn't really work as my husband and I eat very differently. Plus he uses the vacation to enjoy himself with food options...while I have my limits and different definitions of food enjoyment. Food sharing as a cost saving measure just won't work for us.
I also know that I would be fine staying in value if that is what it meant for me to go to Disney. But I'd be kicking myself if I knew that if I just saved longer, I could stay someplace nicer. I like the nicer places.

So we won't splurge on a value trip because we would prefer for our point balance to allow for our DVC stay.
And one final note--we are simply NOT happy off site. I lived close enough to local that if I wanted to stay "off site", I would just drive home. I don't rent houses and anytime I got an off site deal--it just didn't feel like how I enjoy vacationing at Disney. It is great for folks who enjoy that--but we simply do not. We'd prefer to pay slightly more for slightly less accommodations at the value than we would staying at a nicer hotel off site.
Yes, frugal/budget trips can be quite enjoyable. But if you prefer something more--they can also end up being not an enjoyable vacation. Had some of those as a kid. And no--it was not me being spoiled or anything...it was trips being taken when budgets were not really set up for it and it ended up creating problems on the vacation. In one case it provides a hysterical family memory on what NOT to do when vacationing...but at the time, it just sucked.
Frugal works when it is a state of mind. It does not work when it is being used to pretend you can afford to do something when you really can't.
It is critical to know the difference and know which version defines your plans.