They claim to be based on Glacier, yet their plans (1TB and up) are cheaper than Glacier itself. They offer 5TB for $500/yr, on Glacier it costs $600/yr.
Even more worrying, they don't mention any retrieval fees nor limits.
Glacier will charge them almost $800 if they let you download your 5TB in a reasonable timeframe (7 days).
So, they are going to lose up to ~$1000 USD on every customer that takes their free offer, stores a significant portion of the free 5TB for a year and then downloads it all to move elsewhere...
Either that or they must have a truly amazing discount with Amazon.
Edit: Even assuming such a discount exists, that still looks like a very expensive marketing campaign considering most users will likely churn out after their free year...