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Disney built its entire empire on existing/public domain stories. Cinderella, Little Mermaid, Snow White, Sleeping Beauty, Beauty and the Beast, Robin Hood. The list goes on. Hell even Aladdin is largely located from Middle Eastern fairy tales.
The fact that they're relying on existing IP now is nothing new. It's who they've always been. It's just that they had to buy it since it wasn't already in the public domain.
Absolutely, but at least back then they truly added value by tweaking the stories (those original stories are mostly horror stories to our hears) and providing great animation. Nowadays, they buy great IPs and just ruin them; not only they are not adding any value, they are actively taking value away from them