We were there over Thanksgiving, originally had the Executive Lanai and a Cabana booked on our last two days, respectively. As others mentioned on this thread, we felt that not having to wake up early and rush to the chairs and worry about if we wanted to do something other than be on the chairs for more than 20m (though I don't think there was any enforcement of chair hogging at all, which is likely what caused the shortage), was worth it to us for a few days. We did cancel the cabana and replaced it with an extra Lanai day because none of the cabanas appeared to be in calm areas with ocean views.
I'm a little shocked that it's going to be $110 for 2 chairs (most of which do not have umbrellas, FYI), but would have been thrilled to pay $20-25/chair to secure a relatively calm ocean view chair.
FWIW, we spent most of the first 5 days in the (previously free) chairs in front of Ama Ama and I specifically recall hearing somone say they would switch to paid reservation chairs soon. A few of the chairs (and actually the Executive Lanai) are very close to the high traffic walkway and some have their views obstructed by bushes. Speaking of obstruction, you could rent casabellas on the beach (sme day walk up only) for about $100/day, but I think only one of them had a view that was anything other than 5+ rows of beach chairs. They either need to elevate them so that they are higher than than the other chairs or resituate them with at least some view of the horizon.