To me the difference between deluxe...and not deluxe...needs to be in the items you can't buy (because if you buy it, is an extra charge).
So...
1. Atmosphere. Every
DVC and the deluxe hotels have common areas that are spectacularly relaxing. Beach Club is amazing in this regard.
2. Gyms. Deluxe hotels offer them...and with DVC its "complimentary".
3. Hot showers and lockers for that last day.
4. The dining area....I don't recall moderates having one.
5. Except for OKW, proximity to a theme park.
6. The balcony
7. And then of course...those extras for a fee...rental boats (water mice!), tennis, golf, spas & beauty salons, multiple dining choices.
8. Finally those items unique to DVC (and a very few suites?)...a full kitchen, free (self service) laundry, utensils...frozen food & a small grocery. And space...
And in closing a negative remark (of course). DVC is sort of deluxe...a true deluxe hotel would have more extra special touches than DVC does...but then you'd pay for it.