Yes. The syntax is correct, but only if the poster meant to say: "Here is a more pointless exercise." I am sure he did not mean to say that, so I would maintain that it is in fact a question of synax : a case of syntatical malapropism.

When correct syntax in the wrong context conveys the wrong meaning then it is not "corrrect" syntax, no more than "defecation" is the right word in the sentence "I am suing her for defecation" although the word "defecation" itself is "correct" the intended word is "defamation" (unless of course... but no, let's no go there).