Yes, that's true. But, you left out the fact that it's for 50 years that you'll have that available to you. So, if you divide 16K by 50 years, that's $320 per year. You can't stay at a moderate on special rates for less than that. And, this is at a deluxe resort with extra amenities!
There are a lot more factors that go into it (such as inflation and how it affects the cost of a hotel room into the future, yet DVC will not go up, etc), but that's a whole other discussion on a different thread
I love the historical aspect of the resort and I'm not pleased that it's being altered this drastically. BUT, I am DYING for the thing to be open because I'm a DVC member and a monorail DVC hotel is what we've been waiting for! The closest we've gotten to MK is WLV (which we LOVE), but it's not as convenient to wait for a ferry boat at the back of the resort (especially when it's really cold out or raining) then to wait for a monorail to arrive inside the Contemporary.