In theory yeah, that's very risky though. This campaign is good as a reward for the risk taken though, it might make it seem worth it for some.
Well if you were already going to play at a site with 1% house edge and they have no rakeback, this is a great deal. I have over 500 btc wagered at another site... even though my highest balance may have been 10 btc. Wish I could get a rakeback for that!