You might think of it as a rip-off. It says that you can install the latest apps for just the cost of the app itself. But, really, it's a bunch of older versions of apps, and has no support for the dev's of the apps themselves that ARE paid.
In other words, they have a data base of a bunch of old apps, both viruses and ones that Google has removed from the market for various reasons, and slows down your phone.
It has no connection with Google themselves as far as the apps go, and you can probably be sure that it will screw up your phone. I installed it because I was like "Cool. Only a few bucks, and then I can download apps from the market, sorta like a Zune pass or Netflix account or something!"
NO! It is no where close. DO NOT DOWNLOAD UNDER ANY CIRCUMSTANCES! If you MUST have an app but can't afford it, try contacting the dev of that app and see what you can work out. This app is a rip-off and has no support for the devs of the respective apps contained, it slows down your phone, and contains a plethora of malware ridden and banned apps.
YOU HAVE BEEN WARNED!