There is no hypothetically renting 1M points. Every resort is different, and will rent differently. A 4th of July rental in a place that would be 200,000 points at the beach is going to cost you a heck of a lot more than a 4th of July rental in another location that may cost the same # of points. Demand for a location and how much time in advance you know where you want to go are pretty important. You also seem to be under the impression that people will rent for their cost - perhaps low demand places, but you aren't likely getting week 52 at a ski resort at cost.
For example, even in Myrtle Beach. There are multiple resorts, and they have different costs. If you want Seawatch in the summer, it will cost you 203,000 for a 2 BR. If you stay at Ocean Boulevard, a 2 bedroom will range from 300,000 to 425,000. People who own at each pay diff maintenance fees per point. Most will tell you that it is much more difficult to get a reservation at Seawatch than Ocean Boulevard, so even though the point cost is less, the rental would likely be more $/point than an Ocean Boulevard. There is a lot more that needs to be considered beyond just numeric data. Ron's Leonard/Sheldon analogy is a good one. Are you gathering the data because it interests you, or do you want to solve a problem/get advice. The pure numeric data is only really useful if you are interested, but it isn't going to give you an answer about whether owning or renting is better for YOU. You need to know where and when you want to go and how easy/difficult it is to be there when you want to be there - without that factored in, the numbers are meaningless.
If you want a high demand resort at a high demand time (NO Mardi Gras, summer at Glacier Canyon, etc.), you will be better off owning if you don't want to pay a premium price for rental. If you want to stay off season at less demand resorts, you may be better off renting.
