Have you watched Peter Pan recently?
There's an entire sequence from when Peter and the Lost Boys get captured (starting not that long after "Following the Leader") by the Indians that, shall we say, hasn't aged well, culminating in what is likely the most (at best) unfortunate song Disney's ever written, "What Makes the Red Man Red." If it was just Peter Pan and the lost boys pretending to be Indians it wouldn't be all that bad and probably something that could be dimissed as harmless "well, kids have imaginations and like to role play, and they especially did that in older times." But really it's not so much anything Peter Pan or the lost boys do than how the Indians are depicted, period, save for perhaps Tiger Lily.
And really, none of this has been a secret for some time. It was stark to me when I decided to rewatch the film as a teenager more than a decade ago, long before I (or most other people) started really thinking critically about any of these things. But because Pan is a classic, remains widely available, most adults haven't seen the classic Disney films in at least a decade and tend to only vaguely remember them (even here, some people look down on the animated films), and the company has never said or done anything with the film until this baby step of a measure right now (Disney has to pay the bills and keep the lights on, after all, and if you want to buy/consume Peter Pan everything, who were they to stop you?), it wasn't really focused on in the way that, say, Song of the South has been. In fact, it really underscores Disney's own hypocrisy on this issue, and the way that they, until very recently, piled all the problematic material blame onto Song of the South while other films with elements that were arguably just as bad or worse slid under the radar. The fact that so many people are unaware of some of the more questionable choices that were made in some of the classic films that have been freely available certainly seems to support the idea that Disney created its own time bomb with "Song of the South" and that if the film had been freely available and not focused on so intently by the company, far fewer people would have known or cared about SOTS.
Obviously it's all subjective to a degree, how offensive things may or may not be to different people, and I don't belong to any minority groups that have been negatively depicted in film by Disney to any significant degree. But the Indian segment of the film to me is the most racist segment Disney's done in any of their films, far worse than Dumbo, Aristocats, or anything else Disney has produced.
And lest anyone make presumptions, I don't particularly care what they do with that (as others have said, brief) segment of the ride, and I'm not advocating that the movie be censored or "cancelled." For the scene in the ride, they can keep it or change it, because it doesn't really bother me. I'm not Native American, it's not really my position to decide if it's offensive in the context of the attraction. But ultimately the depiction of the scene in the ride isn't the main problem.