X-AOLers: From you’ve got mail to you’ve got (luxury) timeshares

News today that Steve Case has poured more money into vacation home company Exclusive Resorts, enough to become Chairman and have his former AOL aide-de-camp, Donn Davis, become CEO.
According to the press release “Exclusive Resorts eliminates the burdens of owning a second home, the limitations of fractional real estate and the uncertainties of renting a villa. Members of Exclusive Resorts pay a one-time membership fee of $375,000, which is 80 percent refundable upon resignation, as well as Annual Dues of $15,000 to $25,000, depending on the Usage Plan the member elects each year. ”
Case is quoted: “What attracted me me a little over a year ago to acquire a controlling interest in the Company is that Exclusive Resorts makes vacation homes more accessible and more affordable to more people, much as mortgages made home ownership possible for the public-at-large
And Davis: “I am thrilled to be CEO of the Company as I believe Exclusive Resorts is positioned to revolutionize the luxury travel and vacation real estate industries for the benefit of consumers.”
Is there something scary about rich guys going from selling everyone ISP access to selling time shares to the top 2% or am I being too sensitive?