Beginner Fly Tying Kit

The kit is a good starter but not a great deal.
You can get all the tools at Sportsman's in a wooden box for about $40.00.
The kit that you are looking at includes some materials, which are not all that good and won't tie many patterns.
The vidio would be good though.
I would say that the kit would be worth buying, but plan on getting some other materials and hooks to go with it.
The vidio will tell you what materials you will need for several good patterns.
One thing to remember, is that if you are tying dry flies, you will need some hackles and a good dry neck will cost about $50.00 each. You will probable need at least 3 colors to start with.
You can buy a grade 3 for less money than a grade 1 or 2, but be careful with a grade 3. Some grade 3 necks don't have a lot of good hackles for smaller flies.
If you buy your necks from a fly shop, they will help you pick a neck that will be best for the flies that you want to tie.
I suggest that you start tying nymphs and woolly buggers first, because the materials for them are much cheeper than materials for dry flies.
Good luck and have fun.

Kits

I would pose the question as to whether you are getting a kit to see if you like fly tying, or because you've decided to tie, and are committed to learning.

If you just want to test the waters so to speak, kits are fine. You'll be able to see if it's something you enjoy without spending much money.

On the other hand, if you've decided to take up fly tying and intend to make a serious effort, every kit I've ever seen leaves a lot to be desired. The makers shoot for attractive prices, and you get very low quality everything. If this is your direction, buy a good rotary vice as step one. Second, figure out (from past experience or by talking to someone in a fly shop) what fly patterns you will use most. Buy decent quality materials for those specific patterns, and then start tying. You will learn faster, produce higher quality flies, and keep yourself from forming bad habits due to poor equipment/materials.

In fly tying, as with many hobbies, I've found that buying the cheap all-in-one kit is usually not saving me money. Rather the $50 goes towards some throw away gear, which is soon replaced out of frustration.