But this isn't just a small indie team, and their forum will probably be littered.
That's kind of the point.
Look - it's really not my problem how you (or anyone else) chose to spend their money. Just be aware that the only thing the $400 buys is a fancy title and access to the private cheerleading section of their game forums. This is not a small indie team - that makes them very unlikely to be interested in the opinions of random internet people. Even if they were, it would be the dumbest focus group strategy ever to limit input to a group of people who've spent a significant sum of money (i.e., people already guaranteed to be positive to whatever Garriot creates). Though perhaps that is how the developers think (cf. Treleaven's quote above), in which case the project is sure to crash and burn. Working within an echo chamber is never a good idea.
To get back to the OP, I'm not quite sure what you hope to gain by this. It is your dream to become a developer; what makes you think this will help?
You don't want something like this on your CV: a prospective interviewer would ROFL, before binning the application. You are not going to get any development experience. You are not going to get any design experience (unlike Jon Shafer's recent KS project, there is not even the promise of getting a sneakpeak at their design docs). There is - as far as I can tell - nothing here that helps you along the path to being a gamedev. The only reason to spend that kind of money that I can see, is if one is an Ultima fan(atic).
If you want to pursue that dream, you have to keep in mind the golden rule: finishing is all that matters.
Go and build something - even if it is just to mod an existing game. Having something - anything - to show that you have had a significant hand in building and completing, is infinitely more useful on your CV than listing games on which you are a beta tester. Build a game (something small) - and you will learn a lot more about what it takes to be a game developer than you will ever learn from a thousand forum posts by Garriot.
Incidentally, the Jon Shafer mentioned above started out modding Civilization III and ended up as lead designer and developer on Civilization V).