I think the main reason why someone might be unhappy with their purchase is that they think it will save them money.
I can't explain why the average person might want to buy a DVC membership but I can explain why I did and why I would do it again:
1) Travel for work. If you live in a hotel room 45ish days a year the idea of going on vacation and staying in another hotel room is not as relaxing.
2) Stress. For my wife and I vacations are not a luxury they are essential. My productivity falls if it has been too long since my last vacation. We take 2 week-long vacations a year and usually 3 long weekends away.
3) Stress again. Sure I could rent points but I like knowing they are always there waiting for me. It gives me something to look forward to even if the next vacation hasn't been planned yet. Owning them is soothing. Even in years where we have to buy a new roof a vacation is always a possibility.
4) Did I mention stress? If we stay 7 days at disney we usually only go to the parks 3-4 of those days. Going every day from opening to closing is not something we want. We want to have fun some days and relax others. It is nice having a home instead of a hotel room to relax in. There is no reason to make a hit list of park attractions because we will be back very soon.
5) Stress, oops, no, Family. In the last 10 years we have taken various family members with us 6 times. We like being able to do it for family and we like having them along.
6) I know it sounds cheesey. DVC is a vacation home. Home being the operative word. Some people would find it nuts that anyone might want to cook, do laundry, waste precious time playing card games, read a book, watch TV, sit on the balcony and watch people go by, etc., etc., etc. But with a home instead of a hotel room you have greater control over your vacation experience. Quite frankly, the idea of spending a good chunk of a day in a hotel room is not appealing.
As a member of almost 10 years, my thoughts exactly!!
We purchased DVC instead of a Florida Vacation Home. DVC is a luxury. Yes you can rent, but there are reasons for being an owner and they are not all Value based. It's like asking someone with any other expensive hobby (boating, horses, golf,watersports, rv etc) why they choose to own over just renting.
DVC is our family home. We entertain family and guests there. We visit 2-4 times a year. It's a beautiful place to be, easy to get to and has enough activities to keep us entertained or relaxed. I dont have to work too hard to be there and it has nothing to do with "vacation" for us, it is home! It is our RV, our lake house, our boat.
As for renting,
My last 2 guests, 1 in Oct 2009 SSR and the other in Dec 2009 BWV, both inadvertently allowed to check out and leave a balance due.
Both times I found out more than 6 months after they checked out and DVC attached the bills to my membership. Thankfully they were not random strangers and I was able to clear up after being notified, but these situations (which never happened in the past) definitely puts renting to strangers in the questionable column for me.
Our next trip is Oct
DCL with 25 family members

That's a true blessing and I would never do that without our membership.
Stress management is big for me also! Just knowing I have a visit planned, allows me to stay focused at work and be more productive.
I'd rather spend my money at DVC than CVS!
