I don't think so. its still a colt upper and lower receiver, with a bull barrel.
it's for sure a plinker but then most of us who own an AR15 have them as some sort of plinker.
having a colt A3 elite stamped lower reciever at least means you have about a 200$ lower in your hands.
also it was Colt's rifle to be an 'off-list' rifle during the Assualt rifle ban.