The basic idea behind points is not bad, the problem with it is humans and the fact that they are numeric/ called "points". Might as well call them "gold coins", since soon enough people all around will start to believe there's genuine value in having/collecting many "points".

I like to believe that it'd be much more productive if the tasks were T-shirt size. Since that would prevent people from computing "productivity" or "velocity" or whatever - while still allowing you to do rough estimates, if you recorded this for long-enough. (actually, I think you need some sort of tshirt size for several dimensions - like, "dependencies/ how many people you need to communicate with for this feature"; or "uncertainty - how much is this 'just work'(implementing a known solution) versus 'exploration'/ trying to identify the solution first ")