I don't think people are necessarily cynical about Aladdin. Most people on here liked it for what it was - a slick, fast, and colorful production for families.
But, remember that Lion King was groundbreaking and visually stunning and BBAB was a good show. They set the bar high.
Since then we've had Tarzan and The Little Mermaid which have devalued Disney's theatrical credibility.
I would be surprised if Adam Reed gets a nom, but the show, the score, Igleheart, costumes, and lighting are probably going to get recognized.
....but the world goes 'round