It's no surprise that the exchange rates are poor - this is yet another program powered by the folks at points.com.
What is of note is that this can be used to convert miles into cash. Just have a friend set up an ebay auction for a toothpick for $100. Convert your 13,889 AA miles into 10,000 to pay for it, and after ebay fees, you'll get $94, or about 2/3 of a cent per mile.