There are referrals and there are referrals. One is basically a a lead generation product for internal recruiters - internal referral bonuses at the like. The other is a professional and social relationship - a mutual connection recommending a particular person to a hiring manager. The latter doesn't need any financial mechanic to work - the costs and benefits to the referrer are measured in credibility and reputation.

The former already carries substantial financial rewards at most companies. This product seems to be aimed at making that kind carry more weight by adding a downside cost to the (effectively) anonymous referrer, _reducing_ the incentive to stuff the queue.

To me, it feels like the 'crypto to let strangers borrow your stuff' thing that was on here a few days ago. Attempting to replicate a social cost/benefit structure with financial products doesn't really work, and the implied equation of the two rubs a lot of people the wrong way, as seen here.