Does Yahoo Really Review Directory Submissions?

The Yahoo Directory is often pointed to as one of the few quality directories from an SEO perspective. The reasoning is that because Yahoo actually reviews each submission and that they might reject a submission, the $300 or so fee isn't really a paid link and therefore doesn't violate Google's Terms of Service. With the above in mind I find the below rather humorous.

Here's the listing I found in Yahoo's Directory. Looks like a typical listing, right?

And when you follow the link to the site you're presented with the following SEO goodness. They don't even attempt to hide the purpose of the site.

So do the folks at Yahoo really review all submissions for quality? I'm not so sure... Or is Yahoo just the victim of a bait and switch submission?