The bottom line is something is better than nothing. However, this particular version (which is the same as the earlier Elite ones) has a number of "issues" shall we say.
I had the Elite version of this 20 years ago:-
1) It is very noisy thanks to the fan that is creating the resistance.
2) Because it is the fan creating the resistance, the pedalling action can become choppy.
3) It only has a very small light weight flywheel, which again makes the chopping effect worse.
4) It is quite limited as to what you can do, other than pedal. In other words, you can load the resistance other than changing up a gear and pedalling faster.
IMHO save your money and get something a bit better. The Minoura Mag 500 for example, found it for £89
here
But there are loads to choice from and thats just one example that IMHO is better than your first choice.
Personally I use the Tacx Flow, marvellous piece of kit with huge amounts of options to keep you entertained. But of course this is reflected in the price at around £300. But I have had it three years now and have done roughly 2000 miles on it.
Money well spent as far as I am concerned.