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What does the installer do? It installs the application. The package is, I believe, built in "Python", and the installer installs all the "system" files that it uses in the appropriate locations.
Absolutely nothing wrong with command-line tools; for tasks like converting files they are much better than GUI apps in many respects, and the fact that they are command-line makes them "cross-platform" - the same tools can be built for Windows, Mac OS X, Linux, etc. You can't do that with GUI applications.
The GUI app that there's the screen shot of on the web site is, as Jon mentioned, simply a tool for transferring files to and from the Reader; it's separate from the "conversion" parts of it.
Certainly not "crap", as you so colourfully describe it.
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