Yeah I agree. This is a direct ripoff offering nothing new other than moving the tail fin assemblies from the hips to the legs which you can already do with the official figure.
Since Hasbro has clearly shown that they don't care (KOs and Unauthorized toys at Botcon), it just allows some less original 3rd party groups to become bolder.
I would say this fits more in the KO sub section than here but since Hasbro doesn't care about protecting it's properties then why should we?