Well, I got "approved" as well and even though in the form I stated that I will definitely not deposit 5000-10000$ they approved me but to get anything I must at least 5000$, which 100% I won't/can't do.
I think the offer is just worth it when you actually expect to lose and so you can get some cash back. If you win something you basically don't get anything from the "VIP-transfer" since you only get some losses back. Too bad.
You can view it as an insurance but you don’t pay for the premium for your benefits. It’s a win-win for you regardless of the result since you can play with less loss if shit happened.
I’m financial advisor of insurance policy so I frequently get the same remarks as yours on insurance because they don’t view the importance of the time they are protected when the accident happened while they are financially covered at that time. Same on this case, your bankroll is partially protected while you are gambling which you can have a better life line compared if you don’t have cashback.