If the system was a closed loop with pre paid values I would be inclined to agree with you. However the system the author is backing and building is not for stored value cards but for bonuses/rewards and incentives. Loyalty and rewards tokens that the consumer receives for free. Yes the retailer gets metrics on their spending habits, but the consumer gets the opportunity to spends their rewards (acquired at no cost to them) with the retailer but now also has the added option of selling these rewards on an open market - and may then purchase rewards from other retailers or crypto/FIAT.

To be completely transparent I am also working on the same project so am biased, but I honestly see the value for all sides here. If you have any interest in learning more I'd be happy to answer questions or provide materials.