I don't think its terrible. It does offer a free upgrade and if you use that dashing smile, after a few times at a single location, you can usually get more than that.
I am really not impressed by the free weekend coupons. Since I rent every Mon-Fri, I find them hard to use. I'd rather have coupon offering free rental days. If they find the weekdays more valuable then offer a point system where weekend rentals are 5 points and weekday rentals are 10. Else, my 6 or 8 or whatever free weekend coupons are going to sit there unused.