The lifetime costs seems quite high in comparison to the monthly cost. It works out cheaper if the VPS is still running after 3 years. Then you are getting a discount.
But, in 3 years, what will the VPS market look like? VPS pricing is dropping considerably year over year, so these will look expensive in 2-3 years anyway, and then there's the lifespan of that particular spec.
Their 2 year pricing looks better, however. The sort of price that's decent value if they last 6 months to a year.
The lifetime 2Gb one looks interesting. But $4 a month gets you what kind of virtualisation? OpenVZ, so you're dealing with contention ratios and overselling. Xen or KVM - then that $4 is a basement price now, but in 3 years?
I'm not sure $140 once-off lifetime cost for a 2Gb is actually worth it - it's risky, considering the lack of visibility and experience with this company. If Linode or DigitalOcean or VooServers did something like this, it would sell out very very quickly.
I guess these are probably useful as a remote shell server, a private git repo, a private documentation server. Running single-user web apps / cloud. Personal use stuff.
I've seen these kind of deals in Cpanel/WHM Reseller packages around (ebay are littered with them). The typical business rationale is to bulk up their customer numbers in preparation for selling out, or to eek out as much cash from an old server on it's last legs . Or the traditional cash-grab and run. These packages have a tendancy to last about 2 -6 months before things start going off the rails.
Where are their data-centres located? Looks like Canada, from some quotes in this thread.