Poetry dot com

Poetry dot com. Most of us have surfed right into it at one time or another, maybe even been seduced into surrendering up a precious sample or two of our verse with the promise of those big CASH PRIZES. I used to deliver pizza with a kid who gushed that he had been published in America, only to find that this wasn't quite true. As far as I can tell, this organisation operates something like the Borg in the later Star Trek series, assimilating all the verse they can get their hands on in some enormous database only to sell it back to its original owners in the form of placemats, tea towels, etc. Sound like any economic regime you know? Has anyone out there got any stories they want to share about the august troop at Poetry dot com?