MR points are primarily for transferring to partners like Delta, SPG, so on… They terrible at redemptions for cash, statements, merchandise. They're .01 on almost all gift cards, minus Apple.
I'd say they're roughly worth 1.5 cents per point because if you do your homework and time it right you'll get a nice boost transferring. Personally, I'm waiting for the next 50% bonus when transferring to Delta.
MR points mall is down for indefinite amount of time. It has something to do with wanting to provide industry leading experience.
Here's a really great breakdown of their worth:How Much Are American Express Membership Rewards Points Worth? | PlasticIQ.com