This comment may be scrubbed as was my last one. Sorry if it was too political moderator.
To say conservative families , white or otherwise, don’t make up a good percentage of attendance is just not true. Other than Grad nights you can walk into any park and see evidence to support that. Especially when we are talking about a theme park, which is still in the middle of a state that is conservative leaning, where most of Passholders live, And this specific gift is for Passholders.
I completely agree that increased costs hurt. I hate Genie +, I’ve spent less in the parks because of it, and have actually done a couple airbnbs instead of the resort hotels because it is just so much cheaper and the bus system has become so time consuming unless you are staying at a deluxe resort. We are splurging a little in December and staying on property at a nicer hotel when we go but that has become the exception rather than the rule.
For some conservative families the additional Pride related stuff (not just merchandise) geared toward children was the tipping point that has made these other things not worth putting up with. This is evidence by Target that I would imagine have similar demographics. They have really been hurting financially lately.
These next 6 months will probably give a better picture of what is contributing to the decline in attendance.