EDIT 05/27: This post was originally posted prior to the D&D Basic announcement. Some of the commentary loses strength based on this new revelation. However, some of my critique becomes even stronger in the face of this new knowledge (such as the lack of map and tokens). Let me know what you think in the comments.
I was having some Google+ conversations about the D&D Starter Set and thought I'd expand my thoughts here. I have concerns that Wizards of the Coast has not put enough content into their starter box to create even a reasonably good product. "Fiasco" may be a strong description, but it probably caught your eye.
On Starter Sets
What are the goals of a Starter Set?
Looking at the business goals, one would want to provide a low barrier-to-entry way for new players to get hooked on your product. This in turn grows the player base and creates new revenue from the sales of players "upgrading" to the larger product line.
In order to do this though, I also believe that there are game related goals (non-revenue related) a Starter Set has to attain in order to do the best job possible at achieving the business goals.
What I consider required for a starter set: