Destroying the magic... one item at a time.
My first thought was that it was odd because character budgets have to be insignificant compared to the daily operations budget. Until I realized how they're breaking it down - Rides, Shops, Entertainment, Parades, Character Interactions -
Where do you trim the budget? Parades are already gone from Animal Kingdom and DHS, Entertainment is practically gone from Epcot - Everything else is fixed or already cut to the bone. Character interactions (free ones) are all that's left to make any impact on the budget.
And YET they've crammed the parks tighter than ever, the on-site resorts are inconceivably overpriced (and still full) and they're still budget cutting and you're seeing the results here on the DIS as more and more people (myself included) are pulling back on trips.
I wonder if they're still reeling from the magic band/mymagic costs... (which, you'll note, has NOT been picked up by any of the other parks - including the newly opened ones)