That is not correct. It's simply that Joomla 3.2 will include Version Control in the core, so this component will no longer be required.
It will still be available for 3.1.x and prior versions of Joomla
The flexibility for defining lists and themes and behaviors is great. It does require a little practice, but pretty much every customizable element is controlled within the component list and theme settings. Add a little custom CSS and it's good to go.
The price may seem high to some, but you get what you pay for. The bridge is very feature-rich and integrates with Jomsocial, which was the clincher for me.