I don't think it's necessarily a scam. Friends of mine do RCI and they're very happy with the deals they get.

It's more about having less flexibility to choose when and where you go and fewer properties to choose from than anything.

If you use all your points, you do tend to come out ahead in pure dollars and cents compared to renting comparable properties every single year.

The thing is that most people don't like to travel that way.

My dad owns a similar deal that costs $150/night when they use it, on top of their annual fee and the original purchase price, but they get rooms that would cost $400-$500/night when they travel. He and his wife are happy to go to the same 5-6 resorts within driving distance of their house, so it works for them.