I don't think the excuse is lame.
Actually, it doesn't seem to be an excuse at all to me.
Disney (as well as other major companies) are being hit pretty hard lately and have been going through troubled times over the last couple of years.
People don't seem to understand that the company has been cutting back on things during these times lately because they just don't have as much money as they used to and because people aren't travelling as much as they used to thanks to 9/11.
Please don't be so hard on the company right now.
Pushing them too much could make things worse.
I'm sure that the Magic Kingdom will do Easter entertainment again in the future. By then, things will probably be better (they'll have more money, world situations won't be as bad as they are now, etc.).
I'm not trying to start any fights here. I just wanted to get some points across.
P.S.--Actually, the last FULL Easter Parade was in 2000. 1999 was the last time that they televised it.