If you're not one of the top three, but you're one of the 117 others, you're agreeing that you're giving them your story as a For-the-Love freebie. You've already given away your First Rights, and there's a one-year exclusivity, after which you can shop it to someone else as a paid reprint. But because some reprint markets don't like paying for things that are available for free elsewhere, they're giving you heads-up that they're reserving the right to leave it on the website for an additional two years, and then take it down.

So basically, it's a charity market, and the charity is themselves. If you're cool with sending them a story to support them, you send it in--- and if you happen to be one of the top three, that's just sprinkles on the sundae. But if it's not a charity that you want to give your work away in support of, there are plenty of other markets with similar subject matter that pay.