It's not. However, here's the thing with DVC - When you buy, you buy. There is no possibility of ever saving any more money than what you have spent. In fact, just the opposite with dues. THAT's the "X" factor.
I think it's all a matter of perspective. As a DVC member, I've saved money on every trip I've taken because I didn't have to pay for a hotel room. Also dues have increased very modestly over the past decade, so that's not really a big concern for me.
My feelings are, vacations are a luxury. I'm very fortunate that we can afford to go every year. However, heaven forbid something ever happens and we don't have the money, it'd be nice not to have to worry about another bill. It really comes down to the age old "Can we buy outright or do we have to finance?"
A fair point. We've been fortunate in that we were able to rent our DVC points on two occasions in the past 10 years where saving money was more important than taking a vacation. In total we rented 230 points at $10 a point for $2,300 which was paid for almost two years of dues. I agree about buying outright, which we were able to do.
On a personal note, I don't really care for DVC accomidations. That was another factor for us. When I'm on vacation, I want to feel like I'm on vacation, not at home. I like houesekeeping. I tihnk if people are absolutely insistant on staying at a DVC property, their best bet is just to rent poitns from someone selling them.
As I said, I know other people like you who feel the same way. They want housekeeping, they want room service, they want valet parking, the newspaper and mints, the whole hotel feel. If this is how you feel, you don't want DVC. Personally, I would prefer to rent a house on vacation than stay in a hotel. So DVC is perfect for us - we make ourselves at home - relax in the living room, eat breakfasts in the kitchen, put left-overs in the fridge, do our laundry once or twice, put the kids in one bedroom (or the pull-out couch) while we get the other bedroom, etc.
As I keep saying, for us it was the best purchase I've ever made.