Yes. Snake oil. Cheap snake oil (in this case, free), but snake oil nonetheless.
Personally, I put my components on the properly engineered feet they came with. Well, except for my satellite receiver. That, I must admit, I balance on top of my favorite house plant (only lightly watered), with a rubber band on the left rear corner, wrapped around a very special Brasilian rosewood #2 pencil. No varnish or paint on the pencil, naturally, but rather lightly oiled and hand-rubbed for the best resonance control. The olfactory presentation of the receiver is much improved when following this procedure.
Okay, all kidding aside, shouldn't the feet and chassis be engineered properly for resonance control to begin with? Makes sense to me....