I received an offer, which I declined. Writing is my hobby and I don't want to be bound to a contracted amount of writing. Anyway, there are two potential dealbreakers.
Important: If you plan to write for Webnovel only, then those two problems 100% cease to be problematic.
1) The licence is perpetual. That means that if the novel bombs here (ie no readers) then you're still never ever allowed to take it elsewhere. In the western (US and British) publishing market this is a dealbreaker.
2) You effectively sign over you world (but not the novel you're contracted for) to Webnovel. They want to write a sequel taking the story in an unintended (according to your plans) direction, then they have the right to write that sequel. That's effectively the same as signing off your copyright. Once again a dealbreaker in the western world.
However, to reiterate; if you're happy pumping out 40k+ words a month for a perfectly decent pay, then, honestly, do you believe you'll have the time to write anything else set in that world, or to go shopping for a new publisher for that (on average bloody horrible) novel you blew five years earlier?
If you view writing for this site as a really cool job where you get paid for doing what you probably like most -- writing, then maybe copyright and eternal contracts aren't that important after all.
There's also a minor problem that I did contact Webovel about. You're responsible for taking down your novel if it gets published somewhere else. That, ironically, includes the sites that scrape Webnovel for content and publish it. That, no matter how you look at it, simply is not OK.