This is the modern iteration of the knife set I grew up with and have seen on countless countertops.
Henckels have made a super budget set, yet somehow it's still overpriced. Part of that is due to the fact that you don't need all these knives, but most buyers don't know that — which is where the problem lies.
To be clear, most cooks don't need more than 1-2 knives: specifically a chef's knife and something serrated, probably a bread knife. Much better versions of both of these can be had for much less than the price of this set and would provide a huge improvement in value to the point that sets like these should be considered predatory.