As I have said before. The Parks show the real state of TWDC, they are living breathing places, when the US Parks are showing the rot instead of being the GOLD Standard (or close to it) of what Theme Parks should be, there is trouble in Paradise no matter what the Stock Price is. Thats one thing alot of investment types overlook. People also forget what got TWDC through the rough times was DL and WDW!! They kept the company afloat. D+ and movies are ephemeral and really dont show a living breathing example of a companies health for lack of a better word. If the parks are suffering I take that as a big sign that things arent well in Paradise (TWDC) no matter what they say.In my opinion I think this was true at one time. As time went on I think TWDC became more and more focused on its share price. This became the highest priority and everything else became a lower priority.
Today TWDC will do anything to try to protect its share price. At this moment we must also include the pandemic as a factor, but to be very clear, the thousands of layoffs made in the name of the pandemic was made to lower costs to protect the share price.
Its also true that long before the pandemic, the aim for perfection was replaced by the aim to reduce costs to protect the share price. This is especially noticed in the theme parks; very expensive to run and keep running, never mind to perfection.