I quite like the flat here in position. I think this play is less a "its fits the maths type" I"ll play it and more playing for other reasons. I don"t think you should raise here without a plan as you have to fold to a shove (folding to a shove is not a plan).
1.) The price is cheap, and you need to play more hands against "weaker" players earlier on in the tournies to accumulate chips.
2.) I don"t agree that the ranges are necessary as tight as proposed for a standard range. This seems to be a good spot to enable other players to make big mistakes on the flop. You need to accumulate chips.
3.) It widens your range which is good for image reasons and getting paid off later on. You need to accumulate chips.
4.) You"re on the button and it"s pretty.
5.) At this level I think you can play this almost 100% of the time.