I have something similar for about 2 years now. The hot air seems reasonable. However the iron on mine is not crash hot. There is a significant air gap between the element and the tip, which really messes up the thermal capacity, so it doesn't get used much (at all, really) - especially when I have a better iron on the bench. When I bought the unit, I looked at getting a spare element and found it was different to similar irons and while you can get replacements, they are not nearly as common. Haven't needed to replace the element yet - but that's hardly surprising since I don't use the iron. I have thought about getting a better iron that is electrically compatible - but I'm not motivated to muck around with that since I have a better iron right next to it. So I pretty much only use if for hot air.
The iron also had one small issue which showed the level of quality of the unit:
When I pointed this out to the seller, we went through a little dance on how to deal with it, which eventually worked out to me getting a partial refund. I bought a replacement plug from Jaycar to swap over, but I haven't fitted it yet.
I did do the "Don't turn it on, take it apart!" to check out the internal construction - always a good idea on cheap Chinese stuff. While it wasn't aerospace quality, it was reasonable for the price and - more importantly - safe enough to use.
It doesn't get a lot of use - but seems to be functional. You get what you pay for.