Why is my program only loading contacts once when "Allow members to enter the program multiple times" is checked

I have set up a program to evaluate contacts on multiple field criteria on a continual basis.  In the program details, i checked "Allow members to enter the program multiple times." The feeder includes All Contacts in my database.  I have set it on bulk mode.

I interpret this to mean that ALL my contacts will be evaluated every 2 hours as a rate of 25,000 per hour.  However, the program is only evaluating each contact ONE time-- They are not reentering the program.  What gives?