Jason, You said "the problem with people traveling with the vaccine is that it does not reduce the risk to residents here."
Reduce the risk vs what alternative?
It absolutely does reduce the risk vs people traveling there without the vaccine. Although you are right that there has not yet been a published scientific study (that I am aware of) that has conclusively said that being vaccinated reduces your risk of transmitting the disease, because of the mechanisms used it probably does. And the vaccine definitely reduces the likelihood of an active infection, of hosting the virus, for each individual taking it, meaning that each individual traveler who is vaccinated is a reduced risk to be a virus vector.
Does it reduce the risk vs the BVI permanently isolating like a North Korea? No, it does not. Not sure that is anyone's goal though, so I would say the vaccine will definitely reduce risk to BVI residents.
I agree with you that the BVI govt should not just open everything carte blanche to anyone with a vaccine certificate, but considering a traveler's vaccination status, combined with other protective measures is appropriate. I do think vaccinated travelers could be allowed to skip some of the steps current restrictions, for example, without measurable increased risk to the BVI population.