Where is the money coming from? Why not start out as a – as you call it – legitimate representative of writers? What benefit is there in it for the owner of the website to operate this way vs. the standard protocol for representatives? Lots of questions that are not answered.
The fact remains that you are taking away rights for no remunerative value for almost all of those who submit. The odds are not in anyone’s favor, and I am still not impressed.
I want to control the rights of what I have, and any other agent willing to take me on isn’t asking for me to turn those over.