Let's compare with this products - based in storage capacity onl:
WD Elements 500GB USB 3.0 External Portable Hard Drive WDBLUZG5000ABK-NESN
http://www.frys.com/product/7697397
OK it's a USB 3.0 device...
SEAGATE 500GB BARRACUDA
http://www.frys.com/product/6931277
Hey!!! Same price!! But for a 3.5 hard drive...
HGST Travelstar 500GB 5400 RPM Serial ATA/300 Internal Notebook Hard Drive - 0S02857
http://www.frys.com/product/5954604
Almost the same harddrive of G-Connect
SEAGATE ST500DM002 500GB
http://www.frys.com/product/6957157
Form factor 3.5.. pretty huge , no?
Of course this is a ARM device, not only a storage. In my opinion this device is easy hackable device and it is complete. not necessary any other thing to get working, It comes with a power supply, cables and a case. Not like a raspberry pi for example.