This article is a couple of years old, and many of you have probable already discussed the issues in it at length. But new readers of this thread may find it interesting to see how complicated it is for Disney to change. Sorry it is a very long article.Your Cocaine comment isn't that far off - though I would compare it more to being a fan of a sports team. For example, I am a Mets fan because i became a fan as a kid and now I am stuck with them - it makes no rational sense to give them any money based on how poor they have been managed and how bad the results have been - but I am a fan and will stick with my team and it is what it is. Remember, "fan" is short for "fanatic"
And it is the same with Disney - we are fans and they already got us. Now, if we go back to my analogy - a very high percentage of people my age or a bit younger that live in my area are Yankee fans vs Met fans because the Yankess had a ton of success in the 90s when those people were in their formative years - The Mets became the popular team for 1 year when they made a run and that added some fans, but now we suck again and are losing those fans
Which is why my point is Disney needs to worry more about the next generation of fans rather than the fans they already have. They could charge as much as an iPhoneX for a dessert party and some people would pay it - but is that going to bring in new fans? Our would providing a superior experience and great customer service and getting people to go back and provide word of mouth for how great the experience was bring more new fans?
As to your point about it being Iger's fault - I don't disagree that he could have done more and put more of a focus on the parks and them being the best they can be and expanding them - he should have done it earlier but he didn't and it is what it is - but they are doing it now so hopefully they have learned and they keep going rather than this just being a one time thing to get to the 50th and then they stop
As to pricing out the core market - to some extent, but the crowds are still there (again, biggest complaints I see are still about crowd levels). You were referencing Nancy Regan, so I will reference Yogi Berra: "Nobody goes there anymore. It’s too crowded!"
https://www.fastcompany.com/3044283/the-messy-business-of-reinventing-happiness