Here’s what consumers have asked with answers from Media Bias/Fact Check staff and previous consumers.
It is a legitimate company. If you go to their "About" page, it cites examples where journalists and reporters have relied on the website as an objective source. Those examples can be confirmed. It's not perfect but it's better than nothing. NewsGuard has a similar idea and provides a web extension (free for Edge browser). Hopefully some accountability or shaming will promote better standards.