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BizReef is a website calling itself a "Freelance Marketplace" offering a place for both freelancers and clients. While there is an impressive amount of job offers and freelance ads there, the system they use isn't free. The site might work for some, but I doubt it will work for me. You're trying it out on your own risk.

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Bizreef is legitimate. It's a freelance bid site.
They will charge you a small fee for every project you bid on... NOT every project you win, but every project you bid on. The also charge the client for posting the project. Then, if you use their escrow or payment services, they charge a fee for that too. (Although you can use other payment methods and avoid that fee). That's how they make money. Short of that, they are similar to Elance or Guru.

Does anyone know how do they make money?

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BizReef is friendly to use, I got a fair price for my writing work.

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I don't know who is writing these things - but I'm sure it's not a professional writer in my circle of experience! Spending over US$60 in fees - only to lose to bids under US$ 5 per 500 word article - is a joke - if anyone really does make a reasonable living out of these websites I would be glad to hear of them.

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people do make money via such services. If you have the skills you will make money. One more thing about the fees: you have to spend money to make money.

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You can find someone to get a job done at a price that you can afford. This will also save you the time and trouble of looking around for a place to outsource your project. The great thing about these services is that money is paid in escrow and only paid out once a project has been completed and the buyer is satisfied with the finished product.