Many of the jobs are entry-level and unskilled which equates to minimum wage.
Then again, Disney sets the standard for theme parks, both in the experience and customer service. The expectations of a family visiting Disney are higher than if they were visiting say, Six Flags, so maybe the employees should receive higher than standard compensation.
And of course, sometimes there is no amount of money worth the compensation for what some CM's have to put up with in terms of obnoxious and "I'm alive, therefore I'm entitled" guests.
I do know that if I had the chance to work at Disney, even at a low-wage, even for just a few months, I'd jump on it. For all the low points, I can't imagine a better job than being at Disney, trying to bring a little magic and happiness to people.
I think that minimum wage overall is too low. Even when it's not used as a means to support yourself, by the time taxes and benefits are deducted and the gas tank is filled up, I can't imagine there being much left for anything else. But that's another debate.