It is obscenely overpriced.
Resale on LEGO is good, so if it works out and gets the kids interested, it's a small price to pay to introduce them to logic and mechanical concepts (make sure you don't lose any pieces). If it doesn't work out, sell them and take a small hit - it's really a win-win in my book.
It would be really hard to beat the LEGO Mindstorms experience for ease-of-use and learning through experimentation.
My kids new LEGO sets have had multiple bricks brack. We’re using the few I had as a kid that have held up for 30 years, as replacements
Their remote control train never worked, after 3 months of receiving the wrong parts, finally getting what we hoped was the right one, the battery box stopped powering on
They’ve become a second hand junk shop buy. No more supporting their throwaway this plastic in 6 mos crap
The OP didn't specify who the Mindstorm alternative was for, but for young children, the new Lego Boost is cheaper (~ $160 vs the ~ $350 for Mindstorms EV3) and probably an easier introduction to programming and robotics than the Mindstorms, but seems to also be quite hackable (but I don't think you can install your own linux on it like the EV3).