We have been at both ends of the aforementioned spectrum of clubs. Our first cost $70 to join in 1977, had no physical facilities, did several long weekend cruises, with meetings at various cruising venues, monthly meetings in Vancouver where many presentations of general interest kept us coming back for more. That sufficed for our first 10 years of boating, but we found that with 3 kids under 10, there wasn't enough for us there, so we joined the bigger, more expensive club with lots of physical facilities. In our first 10 years there, we moved to club owned moorage (saving about 1/2 our annual moorage cost) took full advantage of 7 great outstations, used the restaurant/meeting facilities extensively and developed life-long friendships. There are definitely the snobs there, but there are also a majority of members who are absolutely not snobs. We have friends in both groups and would give neither up. In fact, today's Super Bowl agenda will have us at the winter home of one of our YC friends for the afternoon,where we are wintering in Southern Cal.
Our kids have enjoyed their club membership too, as our sons, age 38 and 32, each have a sailboat in club moorage and have, since we joined in 1987, developed their own networks of friends.
I consider the initiation fee and the annual fees of the better YC to be the best value for money that we have ever spent. Even better than the $70 for the first club we joined.