As far as a seller of DVC points is concerned, it matters not if Disney buys back their contract or an unknown buyer with an offer. From a sellers point of view, Disney would be the better purchaser. If there is a signed offer and Disney exercises first right of rufusal, the game is over. And there is no way Disney will not pony up in the end.There have been posts in the past here, where a seller actually backed out of the deal, as well as buyers who have backed out. Also, I'm sure there are situations where financing became an issue or many other unforseen circumstances that prevented a deal from completing.
If you are asking if MB hurts the resale market, sure it does. Especially from a sellers point of view. Supply and demand. If people can purchase new contracts and get exactly what they want then why would they pay the same amount or nearly the same amount after closing costs for something that may be not exactly what they want. Therefore, sellers have to come down. There is also a "premium" if you will, that most people are willing to pay to go directly thru Disney for the benefit of a quick, clean sale without any "unknowns". Right now, it appears that Disney is buying back a lot of contracts. If the price of the resales goes up, then buyers looking for deals have no incentive to buy resale over Disney. Also, if the resale price goes up, then I think Disney has no vested interest in those resales. Who wins? If Disney buys the contracts back, the seller wins, Disney wins because they make the profit, and anyone on a waitlist wins. If the price of resales goes up, no-one wins because people will not pay the going price for resales and the sellers cannot get rid of their properties because no-one will buy them. Therefore, the only way for a seller to get rid of it is to lower their price and all buyers will be subject to the risk of Disney EFROR. If Disney is truely playing this game, they win.