The lack of the evolution points is fine, if they hadn't severely limited the archetype by taking away the Wild Shape completely when they could have treated this almost similarly to the Treesinger archetype and made it limited to only Elemental Shapes, and a progression similar to the Plant Shape variant given to that particular archetype.
If they weren't going to allow the wildshape, then a small list of available Evolutions with a small Pool would have made up for this, because they lose all four ediolons if one dies, leaving them literally with only spells, and that's not necessarily a viable build when talking a Druid.
If adjusted, and there are likely going to be a few GMs that do adjust this for their groups, it certainly could be a worth it option. I like the idea of an elemental companion, but not the fact that I can't wildshape or summon if I lose one of them in combat... because it Can and Does happen. Particularly if saves are failed. It means a loss of two major core Druid abilities.