Good grief. I think you need a hard dose of reality on the current state of WDW. This snowball has been building for the past 10 years with MANY warning signs along the way. The people who have tried to speak against it or change course have been reassigned, fired, or politely told to get out of the way as they were replaced with Yes Men. This isn't about projects that will never materialize. it's about the BILLIONS that have been spent on what is probably a sunk cost, and a project that wasn't well thought out, poorly executed, and probably should have been cut months ago! These types of initiatives are pretty much worst case scenario, and it will take years for the company to recover.
On your point about the stock price, trust me, it is not a sign of Iger's competence. Many stocks are at all time highs...I'm making money hand over foot on some of my positions. Stocks are trading 30x earnings, DJ hitting an all time high closing above 16,000. It's all going to come crashing down again soon, and Disney's stock price is going to fall right along with the rest of them!