I agree with everyone's logical assessment of what is a value to them. While some buy the AP for just the admission, others buy because of the perks, and yet others buy because of a mixture of both. I will grant everyone this, there is not a thing Disney does that someone does not like. And on the other side Disney will try new things and combinations to see what works, how many like the changes vs. how many do not like the changes.
Two examples that have nothing to go with AP:
Dining plan: The plan has changed several times just from 2010. The number of restaurants on the plan has gone up. Almost to every single restaurant on property. Right now they only have two plans. Standard and Deluxe. In reality they need a third option, Dining My Way, where you pick the options you want ie: how many sit downs, how many table service, how many snacks. Granted you can sorta do this now, but if you buy Deluxe you need to basically have table service the whole time to break even. Then based on choices you are given a price. So if we had mixed table and counter service we would have lost money. Considering that a standard table service meal is roughly $40 per person. And don't get me wrong counter service is fairly pricey too. But OUR Perceived value came from doing all table service meals.
Memory Maker: This started with just street photographers way way back when film was used. These pictures were on a per picture price basis. Then came the digital age and photopass was born. There were photographers spread out in the parks, not as many as there are now. You walk up, card gets scanned and you have pics. But with this, ride photos were not included, neither were locations outside the parks, like the resorts. Enter Memory Maker. Everything is included, ride photos AND videos, street photographers, roving photographers, resorts, dinner shows like at the Poly. It is pretty fairly priced especially at the $169 we paid and received 617 photos. That is roughly .28 cents per picture. Which to us is a huge value.
In the end, nobody is really wrong no matter their point of view, it is the individual perception of the value of what they are receiving that governs their decisions and feelings.