My kids and I are theme park junkies. In various years we've had Six Flags passes, Cedar Fair Platinum passes, Great America Gold Passes, Knott's Berry Farm Gold Passes, Universal annual passes. We've been to
Legoland multiple times. Disneyland is just in another category, for quantity, quality, repeatability of attractions, and most importantly, attractions that span age groups and thrill levels, so I don't consider this a fair comparison.
By your metric, comparing the annual pass price of those parks to
any visit to Disneyland, going to Disneyland is a bad value because a 1-day hopper ticket costs more than most of those annual passes. My brother has that mentality, so he hasn't been to Disneyland in 30 years even though he loves amusement parks and has had Six Flags passes, been to Universal, Knott's etc. -- I keep trying to convince him to go, because both his wife and daughter like Marvel and Star Wars but hate other amusement parks, big roller coasters, etc, but he doesn't see the "value."
I look at it from the perspective of "how many trips to DL at "regular" price does it take for this pass to pay for itself." In our case, we planned to go for both my daughter's birthday in September and a trip with family friends in February. Those two trips equaled the price of an Enchant Key, so that's what we initially planned to get. But my daughter wanted to go for fall and spring Dapper Day, so we ended up getting Believe Keys for me and the kids. We're happy to plan 90 days in advance, since we need to buy plane tickets, pick hotels, etc. There are also many locals who can go on weekdays who will also find value in a Key even if weekends book up quickly.
My husband is not a big theme park person (he gets motion sick on anything that spins, has multiple loops, etc.), so two Disney trips in a year is sufficient for him (and still justifies the Enchant Key purchase). It wouldn't ever be his choice of vacation destination but he comes because it's one of the only theme parks where he can go and enjoy almost every ride with us. Just to offer an anecdote and counterpoint on the value issue, my employer recently gave all employees and their dependents a free day at our local Six Flags (Discovery Kingdom), which could be upgraded to a 2021/22 Season Pass for $25. The kids and I did it, but my husband's perspective after 4 hours back at Six Flags after a 2-year absence: "you couldn't pay me to come back here." Over 50% of the rides were closed, the food service was even more abysmal than normal, many of the shows weren't running, the staff were even more apathetic than normal, and there's really nothing he can ride without getting sick.