Love it when I read an article that I was contemplating writing! Love it!
In answer to your question, John, the evidence suggests a resounding ‘Yes’.
I too was attracted by Altucher’s honest, humble writing style, but any promise of riches + quick, followed by the word LIMITED (limited time, limited number of members etc) and that shark, as you so eloquently put, is flying out of the water! LET THE BUYER BEWARE!