The "homeowners can 'gift' stays to 'friends and family'" [second scare quotes added] quote in the middle, plus the app to organize bookings hints at the direction they're going to take this. You're not buying a very expensive timeshare, you're buying a 1/8th share in a revenue-generating asset. These aren't paying guests, they're friends of the owners who have been gifted a stay.

Turns out, though, that a neighborhood of (by definition) multi-millionaires can mount a more effective defense than the markets airbnb started in.