I think they're too high, but that's only because I don't believe that the prices should increase exponentially more than inflation (or more than the rate of my salary, which is very similar to the inflation rate). Add to this the fact that over my family's past three visits, each has offered fewer attractions than the visit before because the newer attractions are outpaced by the shuttered ones (e.g., close 4 attractions and open 2), in addition to longer lines, and the value-for-the-price hasn't increased at all.
Does that mean we don't go to WDW anymore or that it's "no longer worth it"? No, but it does mean we look for more ways to decrease our spending (traveling during lower-priced seasons, no more souvenirs, not purchasing parkhopper or other upgrades, bringing more of our own meals, shorter visits as there are fewer new/repeatable attractions, etc.). I don't think the higher prices will ever stop us from going to WDW every 2-5 years, but they will certainly whittle away at what we consider to be our "must-dos" on a WDW vacation, because even though the prices have gone up significantly, our vacation budget hasn't.
I used to view the Disney price hikes more gently, until recent travel to Europe and Scandinavia helped me get a better perspective of travel costs on a bigger scale, and opened my eyes to the fact that for little more than we'd spend on a week at WDW, our family can spend a week in Europe. Once you've had Swedish meatballs in Stockholm, for example, Akershus and its bevy of polyester-clad princesses lose all of their appeal...