I'd say they are more concerned with undercutting Disney's nightly room rates. (Maybe that's what you meant to say?) If Disney quotes a price of $2000 for a given Deluxe stay and renting points will cost 1/3 of that amount, folks at Central Reservations will not be thrilled.
Renting is still a fringe activity and I think some execs realize that stamping-down too hard on rentals will have some trickle-down affect on DVC sales. (If current owners have increased trouble renting, more will opt to sell. That additional supply depresses resale prices, which in turn can hurt direct sales.)
Meanwhile renting is still a useful sales tool for helping to sell DVC points. I bet a pretty good percentage of those who rent ultimately end up buying.
But philosophically there is a tug-o-war within TWDC with CRO execs mostly opposed to rentals and DVC mostly favoring rentals. CRO hates the fact that non-owners can get Disney quality accommodations for so much less than their own prices but DVC sees value in the marketing aspect of having non-owners experiencing DVC villas first hand.