It's one of the many classic pyramid schemes out there. You have to jump through a bunch of hoops, most of which include purchasing things from a third-party. If you miss any one of them, you don't get the "free" item.
And then you have to let them spam all of your friends until they get five of them to jump through all of the same hoops.
Then, if you're really lucky and they haven't packed up their site by then, you *might* get something from them. But probably not.