I think it could be helpful for basic marksmanship, assuming one is able to properly self-evaluate. I would have preferred to see a trace of the hold, and not just the placement of the shot.
I do not believe it is a replacement for either live fire practice or dry fire.
Live fire obviously tests ability with recoil anticipation and other factors in play, and is important for developing familiarity with the manipulation of the gun. I also feel that, mentally, there is no replacement for the distractions of a piece of paper and a target. Misses bear no weight with a laser in your basement, making it easier--too easy--to focus on applying fundamentals.
Dry fire, well...I believe that most people dry fire incorrectly. The first part of dry fire training is doing so without the distraction of a target or sights. In other words, you practice making a perfect, uninterrupted trigger pull, separate from all other factors. Once that is mastered, you move on to doing the same while aligning the sights, the goal being to maintain the same trigger pull, while keeping the sights aligned. What you don't want to do is adjust the trigger pull to keep the sights aligned.
From there, you repeat the process with the sights aligned on a target. Again, your goal is to keep the sights aligned on the target without changing the timely, uninterrupted trigger pull.
This method is difficult, as it requires you to first figure out the ideal, and then do a lot of self-evaluation and starting over. But I feel it is best.
That said, the price for the starting package is not bad (additional calibers are absurdly expensive). I believe that it is superior to not training. In other words, if the price of ammo would keep you from practicing live fire, and boredom would keep you from proper dry fire practice, this is obviously a better choice.
