I have a Hoppus Jag, despite my dislike for the band back in the day (my then-teenage son was a huge fan) and my not really needing another Fender bass. That said, I've been happy enough with it and it is different enough from my other P and J basses. The reverse P split coil does have a slightly different tone than a standard split coil P. I notice it most on the D and G strings which sound fuller. It has a real bark to it as well, more aggressive than the usual. The neck feels to me like a slightly larger J neck, very nice. The QC on mine was flawless.
It was an adjustment getting used to no tone control and I'd prefer to have one, but it doesn't really matter much once you set the EQ as desired at the amp. Supposedly, turning the volume knob down also tempers the tone for the quiet parts of your punk rock anthem, and rolling it back from full-on does help tame the SD QP a little. I dig the surf green w/matching head stock, too. Yes, it's overpriced though it might hold its value a wee bit better than the Player. If "punk" was my main goal, I'd prefer the Jag.