I agree with you. In my opinion, being in their infancy, they try to cash in as many sats as possible (having minimal competition). Also, the "bitcoiners" are happy because they think they are contributing to the development of the Bitcoin standard when, in fact, they're not.

If you buy gift cards with bitcoin it avoids using a kyc exchange the would report a sale to irs. If one had highly appreciated bitcoin one could buy a gift card as a way to try and dodge taxes. Maybe selling gift cards for bitcoin could be a way to also avoid kyc exchanges to purchase bitcoin.