Yea...when I heard about these I actually thought it was a super idea. People can get a functional bike for $100 or whatever, and there's hardly anything that can go wrong with it.
I mean I wouldn't want to ride it very far, but I'm fortunate enough to be making enough to splurge on my bikes a little. For those who ain't...what the heck. Get it and ride it. Find your local community bike fixer place and make sure it's assembled correctly though.