Yeah, that thing would be good for about two days, then it would just be a vaguely translucent hunk of junk. Good idea, but the materials just aren't up to it.
Also, since you sit down in it and have a two-bladed paddle, it's a kayak rather than a canoe.
I love it and don't think the price is too bad for it... but like sploke, I can definitely imagine there will be a mess of scratches and chunks in it before long... nice though