I think the people who are bidding usually spend their points on vouchers or toasters.
For example, if you compare it against this
You could maybe buy 4 and a half 55" TVs worth $2800 each (486,780 points)
https://store.qantas.com/au/p/lg-a1-55-inch-oled-tv-with-lg-ai-thinq/2011971P
Think they...