It's sad really. Live entertainment is the easiest place to cut costs.
One of the nicest things about DAK is the variety of live entertainment throughout the park, and one of the reasons I enjoy it so much, but how many people really care? If you believe as I do, that in recent years WDW is focused on first time, once in a lifetime blow the doors off your budget family trips, there is no need to keep as much side entertainment in the parks. These folks have already planned their stays, with the add in's that seem to be available, and the FP they race to, ADR"s that control thier touring. Pack it in and if they like the place they will return, but they are hooked, so no need to really keep them entertained. I think that the strategy works even if I am not a fan of it's implementation.
This band will be cut, and in time another act will take it's place somewhere in the park. Or not. But guests will reminisce about what they miss, and enjoy what is in it's place.
I am still in mourning about the loss of Osbourne Lights, while it is not the same reason for the loss of a favorite aspect of WDW visits, the result is the same. I whined for a year, then again, and now I am happy that DHS is decorated at all and thrilled that it's nice. Just do not get me started about the decorating cuts in Epcot. The entertainment I have gotten past.