I had actually been thinking these last few days, in anticipation of the new prices, that Disney might not increase their ticket prices for once. After all, last year's increases had been quite steep and there have not been many attractions added, much cost-cutting with canceled entertainment and minimum refurbishments, and attendance seems to be quite good with the Brazilian tour groups and crowded parks in even the off-periods. While Universal increased their ticket price to $92 last week, WDW would have undercut them with a lower single day ticket for the coming year if they had not increased their prices. That might have given them the extra attendance boost needed to compete with Universal's new additions.
Unfortunately, that dream has not come true. I too am shocked at the higher prices. My Florida resident annual pass has gone up from $425 to $464, which is an even bigger increase than last year. I probably will buy another one, though, as I love the parks so much and still find it worth it.
I often look at it this way: how much does other entertainment cost? A baseball, basketball or other sports game easily costs $50 or more, and that just keeps you busy for 3 or 4 hours. Seeing a movie sets you back $8 to $12, and that's just for a couple of hours. Shows like Blue Man Group or Cirque du Soleil are $60 to $100+ and are also just a 2-hour show or even less. While $95 for one day at the Magic Kingdom is a big expense, you do get a lot for it: 12+ hours of attractions, live entertainment, parades and fireworks. Of course, there are many cheaper things to do, but compared to other premium forms of entertainment, where there are many people and big venues involved, it is perhaps not so unusual.