The explicitly say on the call that attendance at WDW was down:
“And at Walt Disney World, our survey data suggest that guests are deferring visitation until after Star Wars: Galaxy's Edge opens, which we believe contributed to the decline in attendance we saw during the third quarter.”
Their "survey data suggests" ... This comment has nothing to do with facts and numbers, it has to do with a survey they sent out to X number of guests asking them when they will next come and the responses leaned towards after SWGE opens. That is really meaningless.
"Decline in attendance ... third quarter" .... so April, May, June .... a quirky time of year but how do they calculate attendance ... any way they want and we'll never know because they don't share any of that information. Is it how many actual bodies walk through the gate? How many tickets were actually purchased in that time frame?

Tough to give any credence to information that provides zero facts to back it up.
I'm diehard Disney here .......... I've been one of those bodies, regularly, since WDW opened. I find current "crowds" too much. For the first time in a decade we won't renew our Annual Passes. ONLY REASON why = CROWDS and what comes with it.
But if I believe them and the body count is actually down then what we have is an operation problem. When attraction lines are longer than ever, quick service lines longer than ever, walk ways more crowded than ever, stroller parking spilling out in walkways, line cutting and guest behavior negative ................ and there aren't more people?? Then Disney has an operation problem aka not enough CMs, rides not operating at capacity, food locations with slower kitchens slowing the lines down aka not enough CMs ........ just about every negative happening that would make it appear crowded could then be pointed right at management's operation choices.
Disney has one of the highest hotel occupancy rates, local hotels are also doing well and more are being built. Disney would be the number one destination for those folks ... but attendance is down? Maybe it's their excuse to their stockholders to explain why merchandise sales are down. Maybe its there excuse to raise food prices because not as much is being sold ... I mean BOG Breakfast is a perfect example of that failing thought process. Maybe it's groundwork for future major changes that impact attendance, maybe another big price hike. We just don't know, we'll never know ... Disney proclaims things folks take as fact. Numbers can be worked in any way they want to support what they want in the end.
Since we only go every 4-6 years, price is sort of irrelevant to us. It's expensive but we don't go that often. last time was 2016 and next time may be in 2022 once the current work and celebrations are done.
And I understand this and you are Disney's #1 target. The family that doesn't come often and still willing to drop a huge wallet full of money ... even though they are getting way less for the money.
I have always said Disney ticket prices are reasonable and fair even when they keep raising the price. But due to increased crowds and decreased operating capacity & CMs ... on a daily basis I am getting much less. With an AP and regular visits I can deal with it. But if I were someone like you that planned a big trip and spending lots of money, I would not be happy.
Sorry, but I don't agree at all.
July 11-18, 2020 at Beach Club - $503 per night
July 11-18, 2020 at Hard Rock - $414 per night
The only reason it's that high is because AP rates and Stay More Save More rates aren't loaded yet. We go every year in July and the only time we ever paid more than $250 per night at Hard Rock was a year we got a Deluxe Room.
But if you want to look at a closer time when discount rates are already loaded, here you go:
December 14-21 at Beach Club - $500 per night
December 14-21 at Hard Rock - $262 per night
Anyone I have talked to that stayed at both park resort hotels says that their experience and service at Universal's is far superior to Disney's. That would factor in to my decision.