I honestly think it's kinda shitty, especially with how they handle earning points for physical purchases, as if our dollars have less value. You can go to the store, and buy a brand new copy of many Nintendo games, and not be entitled to any points because they only allow you to redeem them within a year of a game's release date. Sure seemed like bull shit when I bought a family member a Switch with a copy of Mario Kart 8 for Christmas in 2018, and they couldn't get points for it.
Also, the Wii U had a much better eshop benefit where you earned $5 off for every $50 you spent.