It’s hard, but if you squint and look back you might still be able to see the moment, eight or so months ago, when a buoyant and characteristically polished Bob Iger returned to his throne at The Walt Disney Company and was greeted with a hero’s welcome. At the time, Iger’s mere presence seemed almost enough to stabilize a company that had been beset by a global pandemic, various systemic and macroeconomic forces, and the unprovoked missteps of his successor-predecessor Bob Chapek. Yes, Iger had warned of the “challenging times” ahead, and the need to take decisive action in order to reorient the business, but the boss was back, employees were overjoyed, the stock was up 6 percent.