I agree that it is exactly what the club should be doing. If this was offered long term, it would dilute the value of membership, but for a year or two to build the membership up, it is a great idea. From all accounts, Ballyneal is an incredibly special place with a great golf course. The more potential members that are exposed to the club, the better the membership drive should be.
Many of the remote destination private clubs are offering similar packages. I could not believe some of the national clubs that advertised in the most recent Golfweek Top 100 special publication (where they list the top 100 residential private clubs and top 100 resort courses). Wade Hampton, which I always understood to have a very stable membership, advertised in the magazine. So did most of the newer national clubs.
The key for these clubs will be to find good, long term members from this process. If a fairly public membership drive (like this) results in members that quit the club in less than 5 years, you will be constantly in an aggressive membership drive. However if it attracts long term members, you will then have the stability to selectively attract new members in a private manner in the future.
I certainly wish the best for Ballyneal.