I participated this year and I wound up with a full book trilogy in a genre I really like and I wound up buying someone a relatively new video game for their current console. It was a very pleasant experience and I will now likely participate further.

I think they've done it for 8 years now to good success.

It’s been some time since I took part, but besides one time (got a very simplistic board game for children) I got something cool and fitting every time. I actually still have the motivational sloth poster "live slow, die whenever" hanging in my office :)

The much bigger risk seems to be that you don’t get anything. But they have strict rules and if you don’t send your gift you can never do it again.

Thankfully. Seems like the bigger risk is of the Secret Santa not actually sending anything; I'm hesitant to do it because I know I'll be that asshole who spaces out and forgets about it.

They do send you loads of reminders. I had similar concerns but had no issues.