I think both reality and perception have changed but I agree with Brian that the change has been far more in perception than that
DVC/DVD themselves have truly changed. Many went in making assumptions that "Disney was different" and that certain things wouldn't happen because they hadn't in a while but that was a mistake on their part. I remember posts on the reallocation thread's about those that didn't know this could happen and those that knew it and assumed it wouldn't, shame on both groups IMO.
DVC is just another good timeshare in many ways, different but not better or worse IMO than other good timeshares like Marriott, Hilton, etc. I would disagree with Brian's portrayal that this is a problem or negative on Disney's part (rodent) because I don't think it is. I think the problem is on the members who made inappropriate assumptions and didn't understand what they were tying into, just another good timeshare. I don't think it was ever as good as some felt or as bad as some feel now. I believe unreasonable expectations and entitlement mentality have been the largest causes of negative opinions (reallocations, valet parking issues as examples).