I respectfully disagree.
WDW is not cheap, but for me WDW is in the "you get what you pay for" category.
I was continually blown away by how top notch everything is. The stage shows are just fantastic (the new Frozen thing is a hoot, those Arendelle historians are hysterical. And it snows! lol. FOTLK/F!/Beauty..all excellent). the character interactions are consistently excellent. We watched Voices of America in Epcot and the Philharmonic band in MK and they just give you chills with how talented these folks are! My son is in band and a pretty good trumpeter and he was just blown away.
The fireworks are brilliant..Wishes, Illuminations (we had the privilege of seeing Symphony in the Stars and it was just incredible). Fantasyland looks amazing...from the Tangled area through to Pinnochios house it just pops with color and theming. The 7DMT is wonderfully themed and just a whole lot of fun to ride. BOG is wonderful inside...the snow falling outside the windows is mesmerizing and engrossing. You *feel* like you are in a mountain chapeau.
We were at WL this trip and the place is sparkling. The pool design is amazing - I had never realized there are 3 separate pump systems, one for the waterfall, one for the pool, and another for the stream leading out of the pool into Bay Lake. Roaring Forks was reliably good (they added flatbreads since we'd been there last).
We ate at Cali Grill and the service and food were both tip-top. My teens were so impressed and it pleased me so much to treat them to such a fancy dinner.
The new Poly lobby is gorgeous and Trader Sam's is a home run (albeit small).
I could go on and on. I am not meaning to sound like a fanboy but as far as pure entertainment options there really isn't anything that can compare to WDW. They pull out all the stops.
I think they know the model: dazzle them. And they will keep spending and keep coming back. It works!