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It must be a scam, as far as they will make more money out of you than you will get from their site. There's no other way it can work.

The question is in what way they earn money. I haven't seen a definitive answer, but I imagine some combination of on-site advertising, getting you to sign up to offers you don't want, selling your personal details to advertisers, giving away only limited quantities of stuff and even then only stuff marketers actually want you to have (free samples kind of thing). And it must be set up so the effort it takes to earn 10 points worth of stuff costs them far less than 10 points worth of revenue to deliver.

So, it may not be a scam, but it's not something for nothing.