Firstly, no one is arguing that the end result isn't partially due to the fermentation, which the machine doesn't do. However, to say that there is no way to placate people with opinions from people trusted in the industry doesn't make much sense. If, say, Vinnie from Russian River says that the Pliny clone, that PicoBrew advertises in their Kickstarter campaign, tastes good...then I'd think most people would take his word for it. Or, having noted beer reviewers give their opinions on the finished product. The below article lists other clones that are apparently on-tap at the lab...any of which the original brewers could be asked to try and give their opinion:
http://www.washingtonbeerblog.com/seattles-latest-innovation-picobrew/
What I'm saying is that it's entirely possible to get valid opinions on the brews that people would be willing to consider.
You brought up some other points that I think need to be addressed as well.
1. As to it not being a closed system:
Well, it pretty much is. Seemingly there is a small vent for steam to escape, but to believe that all the vapor created from DMS boil-off can escape through a small vent doesn't seem plausible. Some of that vapor will condense on inside top of the machine, and the vent itself. It will then fall back down into the wort. Whether this is enough to be noticeable is unknown, however.
2. No-chill brewing:
No-chill brewing does work in some styles, and it seems like the consensus is that a 90 min boil is necessary if you're going to do it. However, that's not exactly going to happen with the PicoBrew.
3. As to the wort creation:
I indeed agree. It would seem as though the machine should be able to extract sugars perfectly well, but that's never been a perceived issue with the PicoBrew. It's what happens after the mash that is in question.
To a lesser extent, some of the other limiting factors:
The PicoBrew campaign also doesn't account for the extra money you have to spend on equipment that doesn't come with your purchase.
Kegs
Taps & hoses
Sanitization
C02 tank
The cost of the unit is going to be considerably more than they estimate, and when you factor in that you will most likely end up with 2.3 gallons of beer at the end...I can't see how it would really appeal to many. I mean, it's only about 17 pints of beer. Anyway, most of these points are entirely subjective, but worth pointing out.