It's not wrong, but I don't know how helpful it is. I think it could be helpful for identifying complimentary colors, but it's missing some context about which articles of clothing are which colors.

For example, it lists pink as a matching color for light blue. IMO, light blue pants with a pink shirt works fine, but a light blue shirt wouldn't work so well with pink pants. In general you'd want your pants a darker color or cooler tone than your shirt.