They are on the right track. At least the water is mineralized. But they are using alkaline minerals to raise the pH, which is not good. As soon as alkaline waters come in to contact with the stomach acid the acid is neutralized, which is not a good idea. Neutralizing the stomach acid can lead to nutritional deficiencies, allergies, yeast overgrowth, etc.
And the added oxygen is a sales gimmick. The amount of oxygen in water is regulated by things such as pressure and temperature. As the water warms it loses its ability to keep oxygen dissolved. This is why trout, which require a high oxygen level, die in warm water. They suffocate from the lack of oxygen. And the amount of oxygen present would be so minimal in the water that you would get more oxygen by taking a breath.