Hi Brandi,
You can not completely disable it.

The options are to either hide the member list by filtering on bp_after_has_members_parse_args or modify the members/index.php template to not show. I will go with the second option as it gives more control and allows you to hide the counts too.

Hi Mimi,
Welcome to BuddyDev.

Here is abetter strategy. We buffer the page content and discard it.

/**
 * Start Buffering the members directory content.
 */
function buddydev_start_members_dir_buffering() {
	ob_start();
}

add_action( 'bp_before_directory_members', 'buddydev_start_members_dir_buffering', - 1 );

/**
 * Discard the members directory content.
 */
function buddydev_end_members_dir_buffering() {
	// discard.
	ob_end_clean();
}

add_action( 'bp_after_directory_members', 'buddydev_end_members_dir_buffering', 100001 );

You can put it in your bp-custom.php or in your theme’s functions.php

Hope it helps

Regards
Brajesh