That rebook free dining offer had to have booking occupancy above 95% through the end of August. That is why they are in the mess they are now.
I don't know what the rebook rate is, but clearly, they had way too many reservations to work with the limited capacities they want to put in place.
I posted this in the TPAS thread.
For a family of 4 Disney "adults" at a deluxe hotel, the Free
DDP had a value of $313/night (provided, of course that you would use all the credits). You would need to have a rack room rate of over
$900 to make the 35% a better value than the DDP at a deluxe hotel (or fewer Disney adults).
For a family of 4 Disney "adults" at a Mod or Value, the Free QSDP had a value of $220/night (provided, of course, that you would use all the credits). You would need a rack rate room of over
$600 to make the 35% a better value than the QSDP at a value or mod (or fewer Disney adults). And, yes, there are very few rooms at a mod that would be over $600 (I think only the suites at CSR).
I think a lot of the free DDP people would have been OK with limited hours and limited experiences, as long as they could still look forward to some nice meals. But, the uncertainty about TS dining, elimination of character dining, elimination of the dining plans, and cancellation of free dining will get a lot of the guests that would have cared less about the limited operational/hours hours to consider canceling. It's like Disney is trying to get a lot of people to cancel from all different angles possible.