Something like that, an inexpensive priced guitar, chances are, it's a decent guitar, however, i'd be inclined to take it to a shop and have a tech go over it and ensure that it's setup correctly. Not taking the time to setup a guitar at the factory is one way a company can cut costs.

Also, chances are, you can put some upgrades to it. So, if it were me, I'd be very inclined to keep it, and upgrade it over time. At the end of the day, you'd have a great guitar.

In my humble opinion, as long as you have a good body and a stright neck, you have the base of a great guitar.