Regular is often more expensive than gold too. You were correct - it’s about perceived value. It also adds a sense of urgency. That, of course, is being a little battered with such a long extension but I guess they’ve got to do what they’ve got to do.
Really, the main reason Regular is on sale now is to show how great of a value Gold is in comparison. The only advantage of Regular is that it's a few dollars cheaper.
Regular might make sense for a guest who needs 3+ days of summer admission, but who doesn't need parking, early rides, passholder events, etc. For the majority of guests, Gold is a much better choice than Regular. After July 4, the only pass options will be Regular and Platinum.
So, I didn't even realize KI still sold a regular Season Pass? Also, apparently it just gets you into the park thru Labor Day? I never knew that! Now the question here is: wouldn't it be better to get a gold Pass so one could go to Haunt and Winterfest as well? I agree with the earlier poster who said to eliminate the Regular Pass, but I also ask, what would be the benefit (besides cost, obviously) to getting a Regular Season Pass vs. a Gold Pass?