"Smart" Rewards - not so Smart I think

So I get the Email, and sign up. My Verizon Smart Rewards You have 33,050 points waiting for you.
Cool. lets go take a look at what I can get.  Unfortunately, it seems Verizon caps you on how many points you can use per item.
For example:
Beats Studio Over-Ear Headphone (More Colors Available)
Retail Price:
$269.95
Points:
–5,400
You Pay:
$215.95
(20% Savings)
I have 33,050 points here to use, what gives? From what I can tell 5400 points above equals $54.00
So every 1000 points should equal $100 of actual "credit".  I guess Verizon is not giving me a $3300 shopping spree after all.
Goodbye Verizon, just waiting for the next iPhone to come out so we can switch to T-Mobile.

I've been a Verizon customer for 12 years. I too just started the "Smart" rewards. What a crock! I can buy most of this stuff cheaper off Amazon.com and don't need any points to do it. Verizon is just trying to scam us another way. Guess they haven't had as much luck screwing over people with the "Edge" scam yet. I remember when this company actually cared about making it customers happy but when they forced me off my unlimited data to fund their corporate greed, I lost my "Loyalty" to them. I like you am just waiting to Switch to another carrier.

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