No it's not an "inferior" way of brewing at all, it's actually the MOST COMMON way of brewing around the world. That's how most extract kit instructions go. Because most folks starting out don't have the capability yet for doing full volume boils. That usually comes much later.
Many many many great beers are made on the stovetop.
Brewer's best kits are some of the best beginner kits out there. many of us got started with them.
If you have the capabilities to brew full volume, then do so, but doing it the way the kit says, doesn't mean it will make for a bad beer.
You'll find in this hobby that there really are many different ways to do things, and that "better" or "Worse" are simply best replaced with the idea of what I prefer to do...
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Revvy's one of the cool reverends. He has a Harley and a t-shirt that says on the back "If you can read this, the bitch was Raptured. - Madman
I gotta tell ya, just between us girls, that Revvy is HOT. Very tall, gorgeous grey hair and a terrific smile. He's very good looking in person, with a charismatic personality... he drives like a ****ing maniac! - YooperBrew