I think it is horrible.
The worst part is that it teaches kids to want to look like a perfect American Girl. It is much worse than a Barbie, since they know they cannot be like Barbie who looks like a shiksa. The American girl is within our hasagos, so the pull is much stronger.
Also, it is perfectly snobby. Have you ever see a kid allow another kid to play with it who didn’t have one.