Not really. Losing 1% on loading with utility mcc and earning back that 1% on utility spends. It evens out. High Rewards are there for high MDR categories only.They are still burning alot of money by letting users load 25k using cc.
Giverly was different case, that had Travel mcc. So, it was losing 3% on loading and earning 1% on utility. So, it was losing 2% net.