I think it saves some people some time. This looks like too much stuff for me. I was really complaining more about the usage of "HTML5". It feels buzzwordy. Maybe I've just been away from serious web development for too long, but this entire site feels like too much stuff.
Apart from some of the opinionated "you should be doing it this way" stuff, if your not using a lot of this your probably providing a sub optimal experience for someone somewhere using an old browser. I guess it depends how much you care about backwards compatibility over just building for the latest and greatest, each project will be at a different point on the scale of what they need to support.
Initializr is a little more bare-bones, you can create your own package and customize it a little on their site already. It's based on the HTML5 Boilerplate but haven't got as much stuff in there. I use it all the time. http://www.initializr.com/
