It's interesting that we can talk about these amazing "low" prices, that are really just about the same prices as before with - as you said - fewer actual benefits attached.
But, offering less for more is definitely not new. They'd slowly been raising prices and hacking away at benefits for years even before the pandemic. Probably the most accurate thing you can say about the "rebrand" is that it's just a moderate acceleration, where the rumors had indicated there might be a more drastic one.
Exactly! Many were worried that Disney was going to shoot the price up to a crazy level. On Reddit, people were actually thinking the passes were going to be around $2,000 minimum and NOT unlimited passes either. The day before the Key was announced, people were downright bitter over there lol. Many were thinking the worst.
So when they released it to find it was basically around the same cost as before but some of the passes had a bit more black out dates people thought they just been given a bargain instead.