My partner and I decided that we'd just get the "your fetus can read" program and give our baby the jump on all the other kids, EARLY!
Personally, I think it's developmentally inappropriate. A baby/tot's brain is not meant to read, especially via a TV program. If a 2yo spontaneously learns to read through interaction with family, books, magnet letters, etc. in real every day life, then that's great! But most 2yos will not, and that is NORMAL.
Baby's and toddlers are meant to learn at this stage through interaction with their world, and reading is not even on their horizon. Touching, moving, "talking" with caregivers, those are healthy, developmentally appropriate and natural ways of learning for a baby.
IMO, any time in front of the tv at such an early age, even watching Sesame Street or another "learning" program, is taking time away from their real job of learning in their environment and with their caregiver.
What are the consequences of this early stimulation of a part of the brain that would not usually awaken naturally until much later? I guess we'll find out when all the YBCR babies are older!
Obviously, I haven't used the program. But is it really even "reading"? On the commercials, it looks like, (from the baby's POV) I recognize a shape on this piece of paper, make a response, and Mom goes wild! The baby is not learning phonics, sight words, and context (because he/she IS developmentally incapable of this as an infant); baby is learning how to get that magic response from the parent when Mom holds up a card.