That's not a real via ferrata. Via ferratas in Europe require a helmet, a harness and a double hook lanyard, and being secured to a steel rope at all times.

Yes, and it's a huge attraction. For better or for worse?

I think it’s for worse, but NPS obviously disagrees. They seem to have essentially designated most of the Valley a sort of tourist sacrifice zone, what with all the hotels, roads, stores, paved hiking trails, etc.

There was a similar cables route up Longs Peak in Rocky Mountain National Park for decades, but NPS took it out, leaving the Keyhole Route as the easiest (but not easy) remaining way to the summit.

Wasn't that due to lightning strikes on the cables?

Allegedly. I’m skeptical though…