We discussed this rather vigorously here:
http://forums.equipped.org/ubbthreads.php?ubb=showflat&Number=292499&page=1

My view: A $350 USD kit that doesn't have a metal container to melt snow and boil water in? No tinder for making fire? Big, big fail. Though if you want the barest essentials you can buy the $500 "Pro" kit. They have a helluva nerve IMHO.

The website is a nicely engineered piece of marketing though. It hits the demographic of likely buyers very well. "Professional experts (undefined) have inspired this (not built or approved it). Now I am masterful, now I am in control! I've got this niggling worry locked down, and I feel so much better!" That's the emotional script, and they've nailed it. It sells.

I don't know if this incomplete kit would make someone better off or gives a false sense of security and increase their risk. Too many variables. I guess it depends on their skills, experience and judgement, which no kit can provide. Hopefully they would fix this kit before they went out.

A passing thought to consider though: given the target demographic, one additional piece of kit they're carrying is the resilience of youth. I'm running a little short on that, but I remember it, and it tipped the balance quite a bit.