The 6th century argument perhaps had some teeth back in the day, but it presumes a model of the universe (that of being an object contained by space and time) that is today a fringe model at best. That of course doesn't detract Craig whose paying audience is hardly versed in modern cosmology theory, so they of course eat it right up, despite the fact that the same argument can be used against whatever was the cause. Craig doesn't care that the argument doesn't hold water. He cares that he gets his check for asserting it anyway.

It's sort of like proving the Earth rests on a turtle since anything that holds something up must itself be held up by something. The model worked back in the day, but is today about as naive as the Kalam thing.

So premise 1 is a premise that only applies to objects IN the universe, and even then it isn't necessarily true except under fully deterministic interpretations of physics.
Premise 2 totally goes against the consensus view among cosmologists where time and space are contained by the universe instead of the other way around. Such a model does exist, and it necessarily denies things predicted by the prevailing view such as the big bang or black holes.

one can also say that the material has existed since the beginning of time — MoK

The universe is not posited to have been built from 'material'. Any material did not show up on the scene until several epochs beyond the big bang.

So we're in agreement about the lack of soundness of the argument, but for different reasons.

So premise 1 is a premise that only applies to objects IN the universe, and even then it isn't necessarily true except under fully deterministic interpretations of physics. — noAxioms

Nothing caused the the universe to come into existence? How does that work?

Interesting that arguments over whether the Universe has an origin in time is one of Kant’s ‘antinomies of reason’ (insoluble questions) and also a question declared unanswerable in Buddhism. It’s kind of a shame that so many important ethical issues are believed to hinge on such a question.