Yes, I don't know if they still do this, but when I have brought guests that were in a different room, their key also said "
DVC member". So I assume that's why you still need to have a physical DVC member card to show for a discount. If you look closely at the perks document, it makes a point of stating "member and up to 3 guests" or "member and immediate family" so I believe they're trying to cut back (or just proactively prevent) situations where people who've rented points take advantage of the DVC perks.