That's a pretty low bar, Sandi.
The Riviera is a stunning resort and before the VGF walkway was constructed, I would say the location was probably on par, and arguably better than VGF (and by that, I mean reliance on any mass transit to get into a park sucks, but RIV to DHS via Skyliner beats the hell out of VGF to Epcot every day, twice on Sunday via monorail... unless there's lightning, but I digress).
I think what has hurt Riviera sales has been more psychological than material.
For one, the competing location status when held up against its cohort of Epcot resorts (BWV/BCV) - resort-specific awesomeness aside- puts it at a distant third for most owners whether by way of nostalgia ("my grandfather milled the stone that was used to build the Boardwalk so we bought in back in 1847 and have stayed there every year since!"), or by way of conveniently strolling in for breakfast crescents.
For another, the restrictions were not really keeping most owners from being able to book there. What it did do was give a lot of those same owners pause about owning and being saddled with a new resort, on a new mass transit system, with shiny new restrictions to go with the shiny new rain shower heads. The last being the greatest risk introduced should the Riviera not fit in their lives in the future.
All of that said, most who were really interested enough eventually bought in, but most are probably content to book the resort with their dirt cheap points back in 1847, and wait to see what Disney offers up next.
If you ask me, they introduced the restrictions with the wrong resort. Try that fun little experiment out in CA and get people warmed up to the idea first. Most who buy resale out there will do so to stay out there. Former Caribbean Beach waterfront? Not so much. Then open up an Epcot gate resort; MK pathway resort; Yacht Club Villas; and sit back and watch how many resale restriction railers (present company included) suddenly don't care so much about resale restrictions.