I don't think we feel like we are kings and queens. I know I feel honored to know that I am a DVC member and have wanted it for years. Being a DVC member hasn't changed who I am, it only made me look at my vacations a little differently....better. With that said, a few perks for fronting a lot of money would be nice. We should have a few extra things that the general public cannot get or have, not because I feel entitled, but because I joined DVC for these kinds of reasons.
There are many DVC members who have unrealistically high expectations of what Disney owes them. They seem to believe a $10,000+ DVC purchase is worthy of status as the best / most dedicated / most important of all theme park guests. If other guests are receiving equal or (heaven forbid) better treatment, it's often portrayed as an affront to all DVC members.
I regularly follow about a half-dozen different discussion boards plus things like the DVC Facebook page, Disney Parks Blog, etc. Seems like not a week goes by when some member chimes in with a comment to the effect of "our perks keep getting worse and worse...Disney doesn't care about us...I don't know why I bought in the first place."
Often I'll challenge that by saying "please tell me what perks we've lost" and it's pretty rare that I will even get a response. Other than the obvious removal of valet parking about 3 years ago (due to contractual issues with parking provider), member perks have only improved over the last decade. They added the AP discount and even increased its value in 2012. Members are exempt from DDP seasonal pricing. Members have gained access to new attraction previews, discounts on MNSSHP, MVMCP, RunDisney events, broadway show discounts, Owner's Locker, golf, dozens of restaurant discounts, free days at Blizzard Beach, etc.
Others don't seem to understand why DVC members are not included in "free dining" offers. They refuse to see those promos for what they are: an inducement to spend THOUSANDS of dollars on FULL PRICE accommodations and park tickets for a single trip.
The value in a DVC purchase was/is deep discounts on Disney accommodations for many years to come. Anyone who believes Disney will collectively place DVC owners on pedestal and grant them the best of everything is setting themselves up for disappointment.
Those who truly believe cash guests booking with "free dining" are being treated better--are getting a better deal--are welcome to sell the DVC points and book that offer. Based upon my own calculations, I think most are in for a rude awakening if they actually start pricing those offers. "Free dining" sounds appealing, but it loses a little shine when you're paying $500 per night for a standard hotel room.