Over the past 8 years, points.com exchange rates have become less bad. Back then 1000 USAir miles would getcha an insultingly low 40 or 50 miles on another airline. Today you get 197 DL or 425 Cathay miles, with other airlines in the 200s. Some rates, such as out of Speedway Gasoline or Esso Extra, are actually (close to) fair!
Still there is no robbery because the definition of robbery is 'stealing by force or threat against the victim.' Points.com has never forced anyone to accept their lousy exchange rates or pay their excessive fees! Anyway, they are unethical. What is the correct term for exploiting someone's ignorance, stupidity or desperation?