I can see how the book you linked to ticks Gove's 'phonic' boxes - lots of 'pseudo-words', unable to use meaning or sense, and produced by an approved phonic publisher.
Personally I think there are better books to enthuse children about reading, and become readers. This batman book is very contrived (some children like batman, SP phonics 'first, fast and only' is flavour of the day = book). On many levels, it is not a good story. I would be very wary of using it in school just because of the story-line, 'Malefic is a bad wizard. He can get into your head.' I know of a number of parents, from a religious perspective, would not approve of this. The religious aspect aside, as a professional teacher I would not condone it as a suitable story-line for four/five/six year olds. (As a parent, I may decide differently).
Looking at some of the words in it is interesting. Obviously Malefic is not a pseudo-word and should be pronounced Ma lef ic (not male-fic). Wheark is good. Is it Whea (as in wheat) -rk, W-heark (as in hearken) - obviously not phonetically plausible, but it isn't a word, so why not, maybe it doesn't follow the phonic rules, it has started a new rule, Whe (as in when)-ark, or Wh-ear-k. In essence it really is a non-word. I wonder if the over-exposure of children to non-words will desensitise them to 'invalid' letter strings, so incorrect spellings won't stand out, and perhaps impede their memory of the correct spellings of 'real' words? (Although the book is clearly shoe-horning as many hear/tear/tear/bear/where/sphere/mere words in so maybe w-hear-k).
And because there is no context I can't decide whether the batmobile (a.k.a 'batman's car') won't get ripped like a piece of paper, or is impermeable to salty-water drops if cried upon.