If Disney is looking at revenue per day, APs will be lower. But if they're looking at revenue per year, APs will be higher.
If an AP goes into the park 30 times over the course of the year and eats only 20 times, that's still more than a vacationer that's in the park for 5 days and eats every single lunch and dinner in the parks.
If an average vacationer spends 3 days in the parks and stays off site, they've probably spent less at Disney than the price of an Enchant Key.