The ANA credit card – or is this the worst sign-up bonus we have ever seen?

For its 10th anniversary ANA CARD U.S.A has a new promotion:

If you apply for ANA CARD U.S.A. before 3/16/2014 you will get:

Airline Credit Cards

No intro Annual Fee for the first year. After the first year, the Annual Fee will be $70.
– 6,000 Bonus miles with first qualifying purchase.
– Flight Bonus Miles if you fly with ANA operated Transpacific during the Boarding Period.**

Airline Credit Cards

Flight Bonus Miles:
– Economy class, one way 1,000 miles, round trip 2,000 miles
– Business/ First class, one way 2,000 miles, Round trip 4,000 miles

*To qualify for the 6,000 Bonus miles, you must use the ANA CARD U.S.A. for a qualifying purchase. Please allow 6-8 weeks for receipt of First Purchase Bonus miles.

OK – please don't apply for this card under any circumstances. Many debit cards (that do not require a credit inquiry) will get you more miles. I understand that ANA might be competitive offering such minimal sign-up bonuses in Japan but if you have an American credit history this does not make sense.