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I guess the school's worried about the competition.
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The school does not run the eating clubs or own the clubhouses, so there's no reason that it would be concerned about competition from GLOs. In fact, the university is decidedly lukewarm towards the eating clubs, especially the selective ones, and it probably wouldn't mind if a few more of them went under.
Harvard, Yale, and to a lesser extent Princeton all discourage GLOs both because they are single-sex and because they foster the economic and social segregation that the randomized House/College system is designed to counteract. Yes, people always seek out their own "kind" as friends, but these schools go to great lengths (and great expense) to fight that tendency by creating small residential communities that are microcosms of the university population. In my experience, these systems do a surprisingly good job of building friendships across racial, gender, socioeconomic, and cultural lines that are rarely crossed otherwise (including within the GLOs at these schools).
Greek life is thriving at hundreds of campuses across the country, so IMHO it's no big deal that a few private campuses believe that GLOs run contrary to the University's mission and try to keep them off campus. All schools cannot be all things to all people -- if you want an Ivy League Greek experience, you can go to Penn or Dartmouth or Cornell.
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