I agree it may not be hard cash until Fido policy changes but still I am showing a way where others can convert them to cash on a monthly basis. By the way, I like MSing for cash for building a cash fund till this game is alive.If you think of it as being hard cash, you are thinking like a victim. The truth is that it isn't hard cash until you convert it. This is EXACTLY the same as points being only valuable after you convert them to travel. If you think of it as hard cash then you will feel abused the same way when the Fido Amex changes and no longer allows cash redemption. It's all points until it changes.
It's great that you convert these monthly. Perhaps instead of thinking that is better we should wonder why we are not converting other points monthly, barring a flexible, transferable reserve.
I'm not really arguing with that, I just am not sure it is worth MSing after signup bonuses at all.