Way behind today so sorry for the late reply if everyone has moved on from this discussion - but reports are that the Chapek regime was going to make a lot of these cuts anyway, it’s just being sped up and blamed on COVID.
As others far more knowledgeable than I have explained, this is a choice. They could get creative with park budgets or with exec salaries but are choosing not to. If we saw Disney doing everything they could to keep CMs employed, keep the magic, and keep guests happy (via deep discounts or creative albeit altered experiences) then we could forgive a lot, but I don’t feel they are worried about CM or guest experience at the moment. Heck, ticket prices are still FULL PRICE for no FP, no parade, no fireworks, and barely any entertainment.
Chapek was in charge of parks for years and is extremely ROI focused so while COVID will become less of an issue over time, the parks are entering a new phase of existence that many of us may not love.