I don't think it's bad at all.
I mean, it's not for me, but I'm not at all the target audience.
I think it's MUCH better looking than ThePin, with (small) LCD. And playfield not half bad.
That said, I think by far the most important thing will be how mechanically reliable this turns out to be. If it's nearly bulletproof, with low failure electronics, and decent but limited number of solder joints, then they might have something.
Price point is a little high, but it seems to be a price point largely abandoned by the new pin manufacturers except Stern. The used market will deliver at that price, but one needs to be comfortable with maintenance (or at least the added expense).
That's why I think a very low maintenance machine at that price point that is genuinely recognizable as a real pinball machine (unlike ThePin v1.0) might make this a winner.
Props to Stern for at least testing it out.