You make a really good point with the orvis paints link you provided. The most import points for my brother in his purchase is weight and cost with durability being a close second.
What you have pointed out has a great weight and cost. The only issue i can think of is since he can only purchase one pair of waders there could be a time he might run into a situation where chest waders would be needed.
It is my brother so if he got a little wet it would not be a big deal but i dont think he will go for it.