To me, it makes sense to give WDW a pass for a few years if your family is at the stage where WDW is too difficult and expensive to enjoy. We haven't really noticed the downsides you described and I can honestly say that the last few years, my family (myself, husband, two adult children and spouses) enjoyed WDW more than ever.
WDW is great for multi-generational vacations and we're looking forward to taking our new grandson on our next trip. One day on our last visit, two of us went to a water park, two to MK and my husband and I went to the World Showcase at Epcot and had lunch at Tangierine Cafe. We met up later at our resort, Saratoga Springs, and walked over to Disney Springs for drinks, dinner and entertainment - then took the boat to Port Orleans for boozy beignets. It's hard to imagine too many vacation destinations that provide that kind of variety and convenience.
It does come at a hefty price, though, and there was a time when our WDW vacations were more modest in terms of length and resort. Investing early in DVC has worked extremely well for us - we wish we had done it sooner.