If you aren't communicating the probability of it either being less or more expensive, then you are setting a false expectation.
It also doesn't indicate the kind of application (which is probably a largely stand-alone application). You can't stop some clients from going on to these sites and looking up a cost and not understanding what goes into an estimate. What would be even worse, in my mind, is to have other developers use a tool like this to generate a cost and then fail because they grossly underestimate complexity.
I personally think their model is pretty shitty, because if you build an app as a checklist of features you'll end up with something users won't want to use, and if you polish all the rough edges and make sure everything integrates well together, you will spend a lot more time on integrations than on implementing the features. (My rule of thumb - across many projects - is that when a project is feature-complete, it is usually between 40-50% shippable. When it ships, it is about 50% "done", where "done" means that all the initial development tasks required to make it stable and useful to users are complete. When it's "done", it's consumed roughly 10% of the calendar time and 50% of the developer time that will ultimately be invested in the project.)
But you can at least judge the model they're using for yourself.
What it doesn't capture is testing beyond just design-code-unit-test such as multi-device testing, user testing, user acceptance testing, etc. and all of the change management that goes hand-in-hand with that.
Or, for that matter, correctly internationalizing the recipes and conversion of measurement units. (You don't want to have add 3.43272 cups of flour to 0.2347 gallons of water, when translating metric to imperial - you'll need logic to scale up/down quantities and round within a given tolerance - which is often narrow when you start baking pastries). Or there might be a service for this specific example that I'm not aware of, but the point is when you go beyond a very narrow scope, I believe this tool breaks down.