I also think their faucet is every 6 hours, not once a day - but I could be wrong.
They they give you a free coin each day - usually a DODG coin and you can accumulate those to buy server computing space.
For people asking about faucets, you so do complain a lot about people giving you free coins. What are losing by not being able to withdraw and getting free DODG coin to be able to buy computing power? If the coin is going to experience capital appreciation, it's going to have capital appreciation there too.
You get ~0.15 GRC only daily, not every 6h. And yes, an additional DOGE coin for logging in.
You're right; it's better than nothing. But I'd prefer the other faucets that pay out immediately. Waiting 666 days (~500 days if you convert your DOGE to GRC) seems a bit too ambitious ... And: GRC might become more valuable, so they'll likely give away less over time.
Interesting aspect to re-invest the received coins directly into (their) mining. But as far as I understood, cloud mining is not profitable. Have you used their calculator?
Supposedly there is a break-even point with the cloud mining. Looking at my transaction history, you're probably right re: not profitable:
I deposited 600 coins a year ago and bought some cloud mining. I probably log in every other day on average and get the DODG and faucet and I'm only back to 187 coins.