I have 3 kids and as much as I enjoy spending money on bikes, that is a
lot to spend on a bike that a kid will quickly grow out of.
For comparison,
someone posted this, which with the 30% off coupon, is a great deal for what might not be a significantly worse bike.
If money is no object, I am sure the Felt will be great.
One advantage of getting an actual kid's bike" is the smaller wheels. The inexpensive alternative has 24" wheels, which might result in a more proportionate fit.