Needs work. Quite a bit of work.
First, the good: you get quite a bit of fairly decent steel, for the money. The blade is certainly the best bit. However, thete are issues. The handle is very boxy, needing some sanding to get comfortable. Also, the handle has a weird purple dye that will get on your sweaty hands. Several rub downs with white spirit resolved this, but it it is odd that it was ever applied- the wood looks better without it. The sheath seems good quality leather, but isn't saddle stitched- so if the thread breaks, it's going to come apart. The unforgivable thing, though, is that it hangs horizontally with the point of balance outside the strap nearest the handle. This *will* fall out. Presumably the attached leather cord is an attempt to solve this, but it's an afterthought that should never have been needed. So: I had to strip and sand the handle, re-stitch the whole sheath and re-hang a strap to make this useable. None of that ought to be necessary, but perhaps some issues are to be expected for a pregood price for the amount of steel here. Be prepared, though: it's best to think of this as a project that comes unfinished.