Step challenge at Party Poker

[Penguinfan]

Someone with better math sense than me should figure out if this is a good deal or not. If you don't know what it is you would be better off looking on thier lobby page and clicking the link in the upper right hand corner than having me explain it. The short of it is you buy-in for $12 to a 2-table SNG game and instead of cash you advance to the next step 2 you can advance to step 3, win cash, another step 2 entry or bust out. Step 3 you can advance, win cash, drop back to step 2, get another step 3 freeroll or bust out. Step 4 is advance to final step, drop back to step 2 or 3, another step 4 freeroll or bust out. Now in the final step you get $9000, $5000, $3600, $2400 or nothing at all the way I read it.

Sounds fun and I will probably give it a try, but how much value am I losing over just playing 10 or 20 dollar SNG's?

EDIT= here's the link