its not so easy like you mentioned , you forgot to mention the big part SCAM

Trade 50$ worth of BTC for 100$ AGC [ Scam happens 90% of the time when this rate followed ]
Result :
Your Amazon account being fucked for having invalid AGC , your 50$ BTC which you paid for that AGC fucked

So its not easy like you mentioned , it has huge potential of being scammed .
I think there are ways this can be done, but with too much carefulness.
I have seen people trading their fiat or bitcoins for Amazon Gift Cards, but the only ones which are physical or purchased through cash or credit cards from a store. There are very less chances of getting scammed in these cases, unless you go for e-codes where possibilities are, you go first and pay and you get something which has already been used or invalid, so that's what we need to remain safe from.
You have to know that Physical card purchased by CASH ONLY or not and yes there is a lot of ways to scam for AMAZON GC mate . Its just has huge risk involved like PayPal has for example . If the physical card purchased by CC from a store that still can be charged back , seen a lot of cases in LBC forum shouting for this . Also a good social engineer can easily fuck you up with the sold AGC via Amazon support
even if that Physical AGC . But its also true that Physical card with cash receipt lowers the risk a lot but you have to be sure that receipt is not photoshopped
; its definitely not easy like op mentioned it carry some risk of course .