No it's not, from the way it's presented, it's more like the world's first organism-enslavement-for-entertainment-kit. Not that I understand that much about cockroaches, but it's hard to deny the ethical issues in taking over control of an otherwise autonomous organism.
At first, I thought this might be some kind of joke or campaign to raise awareness of these ethical issues, but it seems that they are actually serious and claim these serve some kind of educational higher purpose: http://wiki.backyardbrains.com/Ethical_Issues_Regarding_Usin...