Am l crazy for trying to pay rent with Atmos card?

So, the Atmos card has a partnership with Bilt that will let you pay rent in exchange for Alaskan points. Basically it boils down to 3 points per dollar and the fees are 1 point per effectively making it 3.1x.

My rent currently is $1100 per month and so if l pay for the whole year l'll be paying ~$400 in fees, more or less making the card $500. ln exchange, l'll be earning about 40,000 points on my rent. l don't live in the West Coast where Alaskan/Hawaiian has a strong presence but l do fly American frequently enough and booking American flights with Alaskan points seem somewhat easy.

l guess my question is, would you buy 40,000 Alaskan points for ~$500? Or am l taking crazy pills and should just pay my rent the normal way without earning points? Please let me know your thoughts, would love to hear the responses.