yes, you would have to loop through all
users so that you could then update that user_meta field:
// Create the WP_User_Query object
$wp_user_query = new WP_User_Query(array('role' => 'Subscriber'));
// Get the results
$users = $wp_user_query->get_results();
// Check for results
if (!empty($users)) {
// loop trough each author
foreach ($users as $user)
{
// add points meta all the user's data
add_user_meta( $user->id, 'points', '5', true ); // 5 = number of points existing users will get
}
}
as far as adding this same user_meta to new users you could hook into the login or registration, depending on how you are adding them to the system. for this you could use get_current_user_id()
to get the id of that unique user.
later, you could then just update_user_meta($user_id,'points');
in whatever function they are earning more points at.
you can find more info on the WP_User_Query in the Codex