Well, I've handeled the thing in person.
As jax eluded to, everything that gives it the "look and feel" of an AR is purely aesthetics. The charging handle, bolt release, delta ring, upper and lower, the front sight blade... all one piece injection molded plastic and it looks as if its a colaboration with ATI. Cant verify that last bit. But everything is held together with what looks like wood screws, short pan heads. Including the front sight and rail forend. The front sight is and forend is actually 2 halves, one on each side of the barrel with half of the front sight being attached to the respective half of the rail forend. Worst part is the front sight post is on one half and catilevers overs the other half, but on the gun I looked at, the screws, while they seemed tight, werent holding the two halves tightly together so the sight post was kicked out to one side. So theres a nice ghost ring on the back, but what difference does it make.
Mossbergs site says its compatible with many aftermarket part available for AR's. That must mean for the plastic railed forend only. You cant change anything out. Not the forend, the carry handle, the front sight...
Yeah, my local gun shop has them for $240, but for $500 I could get a Sig 556. I think they had a S&W for $480.
Heres the thing, its $240. Its cheap. Ammo is cheap. In summary, At a glance, it does resemble an AR, but all the parts of an AR that make an AR an AR, are one piece, non functioning plastic. So if you want an AR or an M4gery, then get that. Spend the extra bucks. If you get the tactical .22 and know in advance what it is and what youre getting and youre ok with that, then cool. It does have the "look and feel" of an AR but in a totally nonfunctional way.
With the collapsable stock, I would consider it for one of my kids. But it isnt close enough to an AR to even train with.