It's not what's in this product, it's what this product is purported to replace. I don't see anything inherently harmful in a wooden frame until it's marketed as a drop-in replacement for reinforced steel construction.
This product is being marketed as an alternative to food.
Please, stop commenting on things you clearly do not understand. Human biology and nutrition is a tad more complicated than creating an iPhone fart app. There's a lot more to nutrition than examining a list of ingredients.
The reason I even bother pointing this out is because you seem like the kind of person who might actually be able to present a specific reason.
Obviously, it's not safe to assume that it can replace all food, period, but I don't see/haven't heard any specific reason to suspect that it would be dangerous to consume it in large portions on a regular basis.
I admit they need a warning of some sort on the campaign, and they should probably link to his blog posts about everything that goes into this, but the "life and death" argument is a bit extreme.