Capital One venture - too good to be true? Travel portal

I'm a newbie with credit cards so an wondering what I am missing with this card. It seems like the sign on 75,000 points will even out the annual fee of $395. So what am I missing?

I am also wondering about the limitations of the travel portal. There are affiliate airlines but are you just limited to these? I live in a somewhat small town and mostly just fly American which isn't an option on their page. Is there another way to book flights through American in their portal?

A bit more background: -very good credit, spend ~3000 a month on my current card, travel 3-4 times a year but only fly once a year.

Is this card for me?