Fyi ~ we are 10 days away from our 3rd WDW trip during the pandemic. Disney and airports do a good job. We just are vigilant and avoid the idiots.
You would DEFINITELY save money with 2 studios… If they don’t bring back perks to stay on property, consider renting a 6 bedroom VRBO home.
Even when I rent a house 25 minutes away, I can get into some of the parks before on site guests because the on site transportation can be so slow. Of course, depends on the resort and park. But having a house is so much nicer all around when there are so many people.
We stayed on site for the first time in 25 years this year. But we will return to off site for sure other than, perhaps, trips just involving my wife and me.
Now, if you plan to pretty much do the parks and no down time, staying on site is fine.
I agree that having a house would be awesome, but staying onsite is DH’s only big ask at WDW, I get to make all of the other plans as long as he doesn’t have to leave the bubble. I feel like it’s a good trade-off 
I am so appreciative of everyone’s feedback. I think we will go with the two bedroom at BLT. Only 5 months until the 11 month mark when I can make a request, it feels good to be planning again 
To me that’s tough, but also, no matter where you stay you’ll have a great time. We had nine people and we stayed in a treehouse. It was full but still comfortable. A third bathroom would have been nice. We rented a Suburban and squeezed four in the backseat because I just couldn’t bring myself to rent a 15 passenger van. Why is there nothing b/w? Driving was no problem and I prefer having a car to not. Boardwalk is my favorite hotel of the two Epcot hotels I’ve stayed at (I have not stayed at Yacht) and there’s no better location. I wasnt a fan of the BLT design for the studio but the location to MK was amazing. With the youngens in your group it may be their favorite park. I don’t think you can choose wrong but I’d go with what’s most important to you because it is give and take. We can all offer our preferences but we like different things. Point is I don’t think you can go wrong! ;-).
As far as getting two studios…we stayed in 3 studios in August with 7 of us, and felt like there was no way we could have managed just 2 rooms…although Pop Century doesn’t have a 5th sleeper.