I'm one of those annoying hippy moms who doesn't like to buy toys that "do" things, so I personally don't like it. (And would never spend that kind of money!) However I'm sure that there are some children out there who would love it, and if you've got the money, what's the harm?
Come to think of it I might spend that on a really cool creative toy for DS so I suppose I'm being hypocritical. Assuming I had the money, which at this point I don't, hence the homemade gifts he's getting this year.