It is similar to Four Seasons Preferred Partner, etc.. Anyone booking through a member TA will receive the benefits regardless of 5C status.

According to the OP it does not offer an upgrade benefit, but such could possibly either be negotiated or "stacked" with Virtuoso benefits where applicable.

Of course everyone knows that booking through R&C website or central reservations is not really a "direct" booking. It is a consortium like LHW, which is an intermediary between the guest and the hotel.