First, I agree completely with your opinion of UAL management.
However, I think that the FedEx program is very worthwhile for a certain segment of passengers.
If you have trouble walking, or trouble lifting things, or don't want the trouble of going to baggage claim (which may be in a different terminal from the one you arrive in), or want to decrease the chances of a lost bag (FedEx has a much better delivery record than UAL does) this program might be worthwhile.
Joe