I agree, but mostly because it doesn't sound like there's any focus on security, and it's too "high level" to really bake in enough security. By "high level" I mean you bring your own Ubuntu/webserver/bitcoind/database installation.

I wish there were a project that focused on providing an extremely secure platform (Linux/BSD distro + bitcoind securely configured out of the box, if that's even possible, or maybe a Bitcoin PaaS) for Bitcoin applications, then you could layer stuff like Coinpunk on top of that.