I'll jump to the defense of these basses ((because someone has to >.< ))
From what I can tell most people who have taken time out of their lives to comment about "how bad these basses are" have never actually played one, let alone seen one in person...There is afterall only one in-depth review of this bass on TB, which while it was a negative review, any self-respecting tb'ers will tell you that you should compare at least ten before having a real grasp as to what to expect, or atleast ten is number I've seen several Essex enthusiasts throwing around.
Having played the full scale black & white one I can definitely say that it is a classy looking bass and it felt and played like a instrument that had been set-up, which if you've ever been to my local music stores you'd now how out of hand some of the set-ups can get. I won't comment on the sound as I was playing through a MUCH better rig than I actually own. If you want a good idea of the sound there is a kid on youtube you has made MANY videos using one of these basses ((the "watermelon" colored one, which I also think is great looking)).
All that being said I felt that the one I played was worth the price tag (($500 I think? Could easily be talked down to $450...)) but trying to market these towards kids just getting into bass was foolish. No parent ((unless they have a ton of many to indulge their child with)) would purchase one of these basses as a first bass when brands with low price tags such as Squier and Ibanez GSR models exist who also make fine instruments considering their considerably lesser price tag.