You don't know the history of the passes. It is absolutely not a "downright steal" for anyone except Disney, when the pass price rises
60% in less than three years. Disney raised the Premier that steeply to match the 75% rise in DLR Premium APs (which were renamed Signature Plus APs) as a strategy to
get fewer people to buy both passes and help uncrowd DLR, which had a problem with overcrowding due to the popularity of APs with the locals who make up the majority of visitors. (Disney also eliminated most Southern California resident passes at the time of the price increases.) This price point frankly was deliberately set to be a painful one, and makes no financial sense unless you plan to spend around a month in the parks, which is almost no one except, as
@wilkeliza noted, heavily visiting Orlando or Anaheim locals who plan to visit the opposite coast.