I'll be honest: I dont completely recommend it
I have a 150$ tablet with identical specs and it was great at first, but I never use it anymore. The screen resolution may look and seem fine in videos, but the 800x400 displays are not meant to be on a 5 inch screen. I mean, an iPhone is 960x640, and that's a 3.5 inch screen.
A major feature that I dislike about cheap tablets is the battery. I didn't watch the complete review above but I just know it will be a poor battery. My cheap tablet was rated at 5 hours, and got about 4 with basic apps. 3d games were 2.5 and I generally got 3. However, the batteries aren't made to last forever. You will probably lose an hour or so after 100 hours of usage.
I've used some small brand tablets and the brand actually matters. All of these small foreign companies are striving to lower their prices to compete with bigger companies. But since their production and business methods aren't as efficient as large companies, they have one option: lower hardware quality. You can tell a lot about a tablet just by holding it. Good tablets are solid and nice to hold. Cheaps will feel plasticky and fragile.
Summary: Lots of small companies compete for the cheap tablet market, and there are reasons that the big guys stay away. Small companies lack resources so they must lower quality to lower prices.