Well, so they say.
$1500 for lenses are not a fortune - add a used FM2 or F3, and the whole bundle is at $2000. That is nothing compared to the many photo classes that demand a recent professional DSLR and matching zoom as a entry requirement. And not expensive relative to the average first car even lower-middle class kids seem to get these days.
Besides, I have yet to see anybody brag on the internet about his child letting him down. While stuff like that certainly happens, and that kit is not out of proportion, the fact that this got told on ebay makes it most likely untrue - the seller will just be a dealer with a story that sells well...