So it had more to do with Eisner's change in direction around late 1994 after his heart attack and the death of Frank Wells?
Frank was still alive when the changes started to be made to the business modeling. Too many other things were happening from the Disney's America fiasco to Euro Disney's financial problems to the delays in getting DCL up and running to the start of development of Celebration to the ABC/Cap Cities merger ... it wasn't simply Frank dies, Michael has a heart attack and the business falls apart.