What I think this makes very clear, is that Disney does not think people will be back in significant numbers for a long time. People will not be visiting the parks because they can't due to COVID, or just the economic situation of the world. Additionally IF the California radius rules are true,
Disneyland, will likely be shut down to any non Californian's until there is a vaccine, and still likely a while after that (so depending on your news source, sometime between November and never). Airlines have already cut back services, and it is likely more cuts are coming (United put 32,000 employees of furlough today), which is going to make it even harder for people to get to the parks.
Even if a vaccine comes out tomorrow, layoffs/reduced hours/paycuts are happening all over right now, and vacation budgets will likely suffer, and with Disney being a very expensive vacation, it will likely be hurt more than less expensive vacation options.
Losing all of the experience of the CMs is going to hurt the company and the experience. Its going to be a long long time to get that level of experience back. However what this is doing is letting Disney save capitol/money, so when things get better and return to "normal", the company will be in a much better position to respond, and ramp up where and when it makes sense to do so rather than trying to bring the whole machine back up at once.
When the parks first shut down I remember reading some articles that the company wasn't in all that bad of shape. The debt they took on to buy Fox is hurting them, but they had/have several lines of credit they could draw upon if needed. So the company isn't in any real risk of bankruptcy, but if they took on more debt would make it harder to invest in the company and the experience down the line.
While government assistance likely helped, the fact that they kept folks on for six months while the parks were shut down is impressive, it also shows this was not a knee jerk reaction. Could things have been handled better, I am sure they could have. But the company, and the world, has been put in a real bad place right now, and this is just part of the "new normal" at least for a while.
I chose to trust that the pixie dust will be back someday, hopefully it is sooner than later. I hate that this happened and reminds me how lucky I am to still have a job with all this going on, even with pay reductions. I hope everyone impacted by this is able to find work quickly, and lands on their feet.