The site in question was just launched. No one will have any information about it yet, or how it operates.
What I'd suggest is to research the site's founders: Uri Singer and George Berry. Even though the site's system is indirect, treat this the way you would researching a potential business partner.
From my admittedly minimal research, Uri sounds like a good guy. He and his production company are focused on "producing quality content for film and television that transcend genres and demographics" (from wikipedia). On the other hand, the film industry is big business and not a pleasant one, so take that with a grain of salt.
George Berry is a former executive of Netflix and Apple, holding the title of COO (Chief Operations Officer) for TaleFlick. His former duties include "coordinating the release of The Beatles catalogue on iTunes" (circa 2011) and "overseeing expansion into new markets such as Latin America, the Middle East, and China" for Apple, then managing "content operations for Europe and India" for NetFlix.
So basically Berry is the distribution guy and Singer is the film guy.
The article I found explains that the $88 is a one-time introductory fee "to cover curation, which makes the content available for one year on the website" (Screen Daily). The site's own FAQ states that the fee "ensures your book is available for one year on TaleFlick".
This strongly implies two things: first, that there will be an annual fee to keep your books on the site. Second, that the fee will be higher after the first year.
I would thus suggest that you only sign up for the service if you are reasonably hopeful that one of your stories has a decent chance of being optioned. Unless you have money to waste, it would be silly to be spending $100 a year on a service that is doing nothing for you.