Personally, I just don't see why anyone would buy Max. I think the obvious win is the little I saw in my one presentation on DEX though. It seems to me like it could be an RCI competitor in a way. Though Max DEX seems different from DEX through Craig. The Max DEX shown to me (this is probably not really a thing, TS salesperson) but the site showed using HGVC points to book in DEX, and at least some "screaming deals" in off season - like 3500pts weeks in 2BR. Yes, these are RCI level resorts, but RCI conversions from HGVC seem more like 7300pts for that. Even more so, I'd like to see some competitive pressure on RCI to get exchange fees down.
I still think in general - no Developer really has a reason to make things more enticing to retail owners, what they've got works, at least for traditional timeshare owners. It would potentially make a difference in resale markets, but of course the developer wants to pretend resale just doesn't exist.
For TUG people, I see locations being of some interest in Diamond, but not enough to buy developer, and honestly, not enough to buy Diamond points. I see enough Diamond in RCI, and RCI Extra Vacations at that - at prices sub $1k for a 2BR. So for us, it'd need to compete with that.
Now, the thing on locations is - I can imagine there are different sorts of timeshare users - those like me, who at least right now are trying a new place every trip, and those who have one or maybe a few places they go to every time. The latter won't care about more locations. People like me do care, but not for the cost of Max especially the limitations of it.
To compete with AirB&B would require a different marketing method IMO, and one that may break their current generally successful system. That said, I think the internet has enough people with bad posts about AirB&B and bad news stories that their reputation is also just a little above timeshares, so there's at least a chance. The thing is, AirB&B is 0 membership, 0 commitment, and mostly ebay levels of support at best. Which in a lot of ways is what I think people in their 40s and younger want - we don't really want high touch sales, or needing to call in to CS to book or desire any sort of travel agent etc. All things the timeshare companies are doing or seem to be pursuing.
The hotel chains have answers to a lot of this, and some have speculated the more "long stay" sort of hotels is really their bid to compete with AirB&B. Timeshares could have an effective sales pitch, but really only resale, which again I don't think helps the developers so... Yea.