That's close enough really. Millennials also are not a great gauge of customers when a third of them aren't working at all and another third still need help from family to support themselves because they don't earn enough. No, you don't ignore them, but most Baby Boomers and Gen Xers have more disposable income according to multiple studies I have seen.
I do think your point above is interesting, though, because it fits with an anecdote. When I was staying at CB a few weeks ago, a UNI TM was giving a tour to a couple that appeared to be business types and she told them "We don't really need to advertise. Our product sells itself." If I weren't in a bathing suit and dripping with water, I might have tried to get into that conversation because it is telling.
UNI now believes, rightly or wrongly, that their product needs no help to get people in the gates and at the resorts. WDW once barely advertised at all because it absolutely lived on a much-earned rep. Now ... I guess those Mommy Bloggers are important ... and the local Lifestylers who need free cupcake parties to sell Disney.