I don't like squire guitars much because of their pickups. They're decent while they work, but they tend to crap out on people.
Suckage is relative, as Dr. Simon pointed out. For their price they'll serve you well. Of course, you might find it worth the effort to save up the extra $$ to get a better guitar.
Another big thing is availability. Sometimes good deals pop up that make the squire seem very bad. For example, a couple years ago a pawnshop here sold an old (I think about '80) hand-made BC Rich in great condition for $250. I only had about $50 then so I wasn't able to get it.
"If one has realized a truth, that truth is valueless so long as there is lacking the indomitable will to turn this realization into action!"