Points can only be used to pay for your lodging.
There are some discounts, currently there's a $100 discount on annual passes. No discounts on meal plans, though we don't have to pay the holiday surcharge on the dining plan.
Discounts come and go, and they are not considered part of your membership. Don't even consider them when buying, they could all go away the day after you buy.
The only thing that's guaranteed in your contract is the right to stay at your home resort, subject to availability. That's what you're buying. Everything else is subject to change.