Times for my 2 cents
My husband and I were at WDW 2/27 to 3/7/18, and the parks did not look very busy to me, BUT the wait times for SM at MK never got below 60 minutes while we were there. Fantasyland was worse, and I felt sorry for all those frustrated parents and children. The wait times were not good at all. When I showed my family the park pictures, they all said that the parks didn't look crowded to them. That made me take another look and, yes, they were right. The parks did not look crowded, but the ride waits were very long.
Then I watched Len Testa's podcast and now know what's going on. What a shame.
As for the comments of decreased merchandise sales, I have bought a Mickey hoodie, and 2 t shirts at our local resale/thrift store. I have had great comments on all of them. I didn't buy any clothes this time, which is unusual for me. I'm happy with my value thrift store buys
Just a side note: I noticed ALOT of people with frowns on their faces, and looking stressed out. Not many smiles at WDW while we were there. I noticed a lot of people looking at their cell phones while in line and while walking, and were probably trying to find more fp's, which has to make it more stressful and less enjoyable = no time to enjoy the world in real time.