I don't rountinely price low end kits - but $399 for a 5 piece kit with double braced hardware sounds like a reasonable price. Basswood is standard on low end kits - and you probably can't expect a better wood at that price.
Basswod tends to be a loud, bright sound, lacking the mid/low end of woods like birch and maple - so, the kit will likely cut (good for live) but will lack the warmth desired in recording.
You will likely have to invest in better batter heads at least for the toms - and I would suggest 2-ply to help warm up the tone (the stock heads tend to be crappy sounding single ply) - so add that to your cost. Also, the cymbals that come with the kit will very likely sound like crap - and you will almost immediately want better cymbals......so add that to you cost as well. Note: New heads and better cymbals would be an expected cost with any low end kit.
So....if you're just looking for something to bang on and maybe to develop some basic drum chops.....you may be satisfied with the stickkit. But, if your goal is to have a recording kit, you will find yourself wanting to make at least the upgrades I've mentioned.
Do you have access to any stores.....in particular stores that sell used gear? Or do your local newspapers or community papers have "used items" sections? Your could probably find better used gear....for not much more than you would pay for new low end gear.