It's cheap. Really that's about the only positive product point I have. If it's all you can afford - why not? It's certainly better than pre-ground coffee.
Negative Product Points
Well... it's a blade grinder, so you can't really set how fine or coarse you want the grind. The grind is also very uneven.
Since you lose the majority of flavour just 7 minutes from when the coffee was ground, ANY kind of grinder is better than no grinder. If you're willing and able to spend more than $15 Canadian on a grinder though - do it! Blade grinders give a very uneven and inconsistent grind. On the other hand, if you commonly drink pre-ground drip coffee and are broke, buying fresh beans and one of these is a great idea. I don't recommend this grinder if you're using a Bodum/French Press though - since the grind is uneven (some finer, some coarser) there is usually some of the finer grinds at the bottom of the cup. Because of this I've gotten into the habit of not drinking the last sip.