I think the practical appeal of the bracelet kit is that there is no need of a bulky useless box (i.e. Altoids) rattling in the pocket (I doubt you want all of these things riding lose there) or any pockets at all for that (consider strolling on the beach situation). Also, instead of the useless box you have a useful chunk of paracord as a container.

By the way, I'm thinking to try making the paracord belt pouch for my LM Wave and stuff some day:



The ideal box is a no box at all.