In-game rewards are usually the "jump through hoop" types; kill x amount of enemies, collect x amount of crap, etc. You get all the Uplay points by simply playing the game through to the credits once, so you really don't have to do anything for them; you bought the game, so it's fair to assume you'll at least play through it once. The fact you can save up points and use them on any game is a nice feature imho, but that does require it to be out-game points.
I agree on the implementation though, would have been much better if it was just an in-game browser.
As far as adding to the game goes, that doesn't really fly. Bioware's (truly) free stuff doesn't add anything either and should have been there from the start as well. Ubi is actually copying this in SC Conviction: they tease you to check back every Thursday for free stuff, and indeed last Thursday a new outfit was available for multi-player.
Heck, you know what? A lot of extra content from Bioware is only free for new-game owners, others have to pay. At least Uplay content is free for everyone... not that you can resell your game, so it comes down to the same thing... ehr, where was I going with this?