Not at all. Once contains story quests, actual leveling, and the primary (or secondary) time sink implemented into the game.
This would be a tertiary time sink along the lines of an optional side quest (or series of side quests) like the HK scavenger hunt missions.
From a gameplay perspective, considering your companion is an extension of your character, being able to spawn a late-game companion at level one with fully customizable armor and weapons is (to some extent) a permanent stat boost for a character that did not earn it.
I really don't see why the whining in opposition to this idea. If you don't want it, don't get it. Its a suggestion for the implementation of a convenience service, just like the rest of the legacy purchases.