Yes, Traffic Monsoon is a scam according to trusted watchdogs like Ethan Vanderbuilt and PTC Central. Traffic Monsoon is run by infamous serial scammer Charles Scoville, who previously operated other scam sites such as Infinitybux.com, BuxSecure.com, TviPtc.com, Powerfulbux.com, Foreverbux.com, BuxUnleashed.com, Banrev.com, Ultimatepowerboost.com, Wealthenginex.com, and ULaunchFormula.com. These sites have all closed down without paying money owed to members.
Traffic Monsoon operates as a Ponzi scheme, though it's sometimes referred to as a pyramid scheme as well. According to Wikipedia, a Ponzi scheme is "a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources". In Trafficmonsoon's case, the website pays members their earnings using money invested by other members, creating an unsustainable cycle.
Also of note is that Trafficmonsoon had their Paypal account locked due to their questionable business model. Additionally, Scoville has also stated that Trafficmonsoon will start its own bank in Dubai, though nothing amounted from this claim.