So to get a "statement credit" on a $250 UA ticket you bought on United.com with your United Visa, it will cost you 25,000 "choices" (which comes out of your RDM, so still effectively "miles"). They are just buying your miles back at $0.01/mile.
But if I want to BUY 25,000 "personal miles" from United (from their website), it will cost me $701.88 or 2.8cpm.
No thanks, I'd like more than 1cpm for my miles, please.
EDIT to add, yes, it looks like maybe a good solution for otherwised orphan miles, and over the last 90 days to boot. But still the value is too low IMHO.