Achieving the same level of money coming in, with fewer people in the park is always going to be the better option. The more people you cram into the place, the worse the experience is. We've seen this, back when they used to cram 20 million people into MK a year. Having fewer people in the park reduces stress for guests, cast and equipment alike. It costs less and you get more value from it.
I don't think they are wondering why attendance is down. They know because they caused it. On purpose.
Lowering the prices to get more people in the park just feels like a real, circling the drain kind of move. Why would you ever be incentivized to build new attractions and spend more money, if you can fill the place by just making it cheaper?
Somehow, I think this is all going to make more sense once D23 happens.