Aren't there five and a half resorts with 2042 dates? That would be a lot of inventory that DVC has to carry until they sell it. I don't think the demand is there (at rental prices they charge) to fill all those rooms with cash guests for a period of several years after 2042. I suspect they may let a couple of the resorts go; like Vero ahd HHI. For the others, I suspect they will offer some type of reup to current owners. I doubt it will be a simple extension, but perhaps a buyin extension like they did with OKW. Apparently the OKW buyin was a real mess in that not only did they have to get people who signed up to sign, but they had to get people who didn't extend to sign saything they were offered and turned it down. So there are some legal questions about those that never signed anything regarding the extension at OKW.
I certainly have no guess here, but b/c I buy and sell frequently, I have conversations with multiple brokers, many of whom worked for Disney, and still have close friends there.
100% say HHI and Vero will simply be gone. Most are adamant that after the disaster as OKW, there will be no extensions tried anywhere else. I agree with you, and have argued the point 'How could they fill all those rooms with cash sales, while selling them anew'?
I mean, they keep turning CURRENT hotel space into DVC b/c of the lackluster rentals. Their comment has been they believe they will shut down most of the resorts and do almost a complete rebuild which will give them time to sell, building by building just like new construction.
A course no one really knows. 20 years is a generation away (16 years probably before they have to have the final 'no going back' plan). Their actual plan may totally change 2-3 times in that span.