Okay, this is just a theory, but I've been buying/selling
DVC for 25 years...I believe there are sellers out there who own multiple contracts (I mean LOTS of contracts) who have been stripping them. They are renting and/or transferring points for profit which is fine. I've purchased loaded contracts to rent and use and then flip, but this is an entirely different category of owner since the covid19 thing ramped up.
In theory, a stripped contract should be worth IMO about $5-6 less PP. For example, you can rent a point for $15 and after paying MF's net about $7 before paying income taxes. Current list prices don't seem to be random within a range of prices and almost all the contracts seem to be completely stripped - evenly down to zero. I don't see this as normal seller listings.
When buying a contract - say a 100 point contract at $100 PP with two years past, current and next year's points to me anyway, is worth so much more. I will rent 200 points at $15 and make 3K to offset purchase price - or $30 less net per point. I negotiate so I don't pay MF's on those two years. A stripped contract has no value to me. Long winded, but let me know if I totally missed the point!