Astoundingly, it's true. See below. The same $57 non-stop WGA fare (base fare of $39.80) is available at 2,379 points (60 points/dollar) and 2,866 (72 points/dollar).
While a positive development, this is odd to me, as a customer would have no way of knowing that a particular fare is "on sale" points-wise without clicking back and forth to compare with the cash price. This seems more like a glitch than an intended promotion. Perhaps related to the implementation of the recent "Early Risers / Night Owls" sale?