Tony, the mods did discuss this posting at some length before we decided to allow it to stand. Obviously, it is down to members whether they wish to pursue this opportunity or not, but we did not feel there was sufficient justification to censor it. Although as you say nobody would want to work for such a low rate per word, it is not impossible that someone with an unpublished (and possibly unpublishable) novel in their bottom drawer might want to consider this option.
If anyone has evidence that this post is other than genuine, please let us know and we will reassess this decision.