Grosssly Overpowered
Well, I've already bought it so I have to say that "Yes, I'll get it." But be warned that it's grossly overpowered and a decent Kineticist will make any other artillery casters -- Fire Shugenja and Sorcerors especially -- feel sadly inferior.
A carefully crafted 8th level Kineticist I rolled up can, by rolling a concentration check of 2, unleash 10d6 worth of electrical whup-@$$ on up to 5 targets in a 30' cluster up to 200' away (and take a 5' step). There will be a reflex save allowed... at DC 27. Power penetration check would be at +12. And that's using a 2nd-level power, Energy Missile. Don't like electricity? Then go for Fire (10d6+10, Ref DC 25, PPC +10) or Cold (same as fire, but a Fort save). As a Psion, you've got all three -- and Sonic if you really want it -- on demand, at time of manifesting. That manuver costs 10 power points (out of 63 for the character) and uses the feats Overchannel (boost manifester level), Talented (safe overchannelling), Narrow Mind (+4 to focus checks), and Psionic Meditation (move-equivalent focus-checks). And then you can Dimension Door the heck out of there (since Dimension Door is a generic 4th level power)...
If you don't care so much for silly-high DCs, you can use the Energy Bolt [120'], Energy Cone [60'] (both 3rd level) or Energy Ball [20'] (4th level) with similar damage adjustments (but lower DC adjustments) for the same power points.
For my campaign, we'll be replacing arcane casters with psionics when we switch mods after I tone it down a bit -- specifically in the "boosting damage boosts DCs, too" department. The Saturday game I'm playing in uses pretty much everything and is looking to tone down the 3.5 Psionics substantially.