No, it's just another scam. It offers no more protection than a good wax and you still have to maintain it regularly or the warranty is void.
Either get one of the plastic leading-edge protections, or get the car completely vinyl wrapped for the best protection.
Otherwise just treat it to a good external valet/detail every month.
Although if you refuse often enough the price will come down to £250 - I just told them to stuff it as I was fed up of their constant attempts to get me to buy add-ons when I'd just spent nearly £28k with them, and if they didn't just get on with it I would walk.