Arguably, this is a good deal, especially if the renewal fees go to further public good like archiving of public domain works. Disney would pay tens of millions to keep Mickey, Goofy, and Donald under copyright, but they'll quickly triage their renewal budget and let most everything else go.

The greater damage from blanket copyright extension is the long tail of works that no one would pay to keep copyright on, but are still protected with the same inflexible term as an ongoing piece of IP like Mickey.