Do you not believe that Bob Iger lies? Do you think he bends and twists things to suit the moment?
FWIW, I look at the context of the whole story and that is that Disney will be spending less in P&R reinvestment, and that is very likely true. DCA's Extreme Makeover is done -- and the second phase will likely be fodder for a coffee table book. Two billion dollar cruise ships are in service and making oodles of $$$, instead of costing it. Two of the three new lands at HKDL are done with the third ahead of schedule. Even the MK project is nearly completion.
The Avatar project is, indeed, the only $500 million type project actively in development for the domestic parks.
But ... that in no way makes what Lee stated 'spin' ... DL just had a major addition given the green light, but it shouldn't cost $500 million (although with WDI plus John Lasseter's interest, it could) but even if it does, spending for P&R will still be down the next few years.