The MagicBands are a huge reason why the lack of investment on good experiences happened. It's been quoted that over a billion dollars got poured into the implementation of the program.
TDO believes, they're mostly correct, that people will keep coming given the current product. Universal's stepped up their game, but it still lacks the Disney quality to it. Aggressive building, sure, but they still lack the polish and charm of Disney.
This isn't to say WDW isn't broken. Magic Kingdom is overcrowded, EPCOT is in a HUGE identity crisis, Animal Kingdom in the middle of a vast expansion, and Hollywood Studios will soon get gutted.
I'm on the last day of my Disney/universal vacation and I can tell you that the Magicband system is way better than when I first used it in 2013. Are there still some serious issues to work out? Absolutely! But is it still broken? Hmmm, I don't think so.
I stayed at AKL in Disney and then I moved over to Cabana Bay at Universal and while I really liked Cabana Bay as a hotel, I prefer the Disney ones. Why? Not sure really. Nostalgia? Perhaps, who knows really.
Disney parks are in a state of flux, while Universal is having a reinessence, so to speak. You have the MK which had its largest expansion in New fantasyland, which turned out to be sort of a waste. They put in like 2 new rides and 47 character meet spots (joking about that number. Lol).
Epcot, like you said has no idea what it wants to be. They should either update the park with actual tech that we may see in 15-20years, like what we used to see at the end of Spaceship Earth, before they butchered it and removed the entire ending. The fact that they are cramming in Frozen into Norway shows they have no idea what to do with the countries. How do you take the biggest animated movie of all time and shoehorn it into a small corner of a country pavilion?
Animal Kingdom is very nice, but it's such a large park and very little to see, aside from the safari and walking trails. Everest is a great coaster with a bummer of ending, which sucks because Disney doesn't want to bring the ride down to properly fixit, and don't get me started about Avatar land. Does anyone even still care about that franchise??
DHS is a mess right now. It, like you said, is about to be gutted, and have some life put back into it with Toy Story Land and Star Wars Land, both of which aren't expected to be completed until the start of the next decade.
Universal on the other hand is just rolling in cash, and you can tell by all the cranes on property and the work being done. You have the London side of potter, which is one of the nicest themed areas I have ever seen. It was overload on my senses when I stepped into that area. They're in the middle of the new Kong attraction which is shaping up to be another impressive themed area, and they're also doing major refurb on the hulk.
I could keep going, but we all know the issues that both companies are facing. Disney and its investors can only blame the magic band for so long before they'll have to come up with some other excuse as to why they are jacking up prices. I'm not asking either company to always have these crazy expansions in the works, but maybe a fresh coat of paint once in a while. I'm pretty sure that would go a long way in making things look "new"
<end rant>