HOA's don't have clients. They have percent owners. Every owner who buys and signs on to the CC&R's is automatically a member of the HOA, which owns the land and structure(s) as a corporation.
I give up power to other owners in the form of rules (which I agree to voluntarily, BTW), but I also gain power in that I can have them enforced on others. Like it or not, an HOA is a modern democratic "village".
I have little doubt that this woman, as most people do, appreciates the fact that she has the power to stop someone from keeping her up all night practicing drums or hosting big parties, and that obnoxious signage is not allowed next to her place. The price she pays is that she, too, has to live by the same rules, and sometimes rules don't account for every small variable.
I am part of an HOA. In a beach neighborhood known for partying, noise, and crime, we enjoy peace, quiet, no crime, and higher property values than places just down the street. Is there a price? Yes. But it's worth it. If it's not, we'll sell and move.