I think the idea is perfectly sound assuming that the current on the 12v side is comfortably within the limits of the device.
You can buy adjustable voltage window switches cheaper than the 'battery protect'. For example, any PWM SCC (which can be ~$10) has that on its load ports. The issue is that then has to
control a larger current switching device. While you can DIY it all for cheap, you can't really DIY it much cheaper than it already is if you are buying non-Victron stuff.
For example, in the RV world they just generally call this device a VSR (voltage sensitive relay) and i have bought one for as little as $13 on Amazon. Here is one for $16:
VSR
If you open that thing up all it is is 2x 70a 12v relays soldered to a circuit board that has some voltage sensing stuff on it.. In other words, it SHOULD be cheap!!
It will be more subject to unreliability from the quality of connections you make on the bottom (heat buildup), than unreliable because it's $16. The only way you could seriously improve the reliability of such a device, in my opinion, would be to use a solid state relay instead of mechanical points. An 'SSR' also sometimes referred to as optocoupler (although that's really only part of what an SSR is) has no points to get damaged from the arcing of inrush currents when it switches. So you
could buy a 100a SSR and a $10 pwm SCC (which would make your voltage setpoints adjustable!) and build the equivalent device in totally solid state form for <$40, which i think is what the Victron piece is (and has some other cool functions). If you don't care about the Victron name or it being solid state you could just buy any generic VSR off amazon for <$20 and run it until it breaks, or more likely.. doesn't.