If it's really cheap, it might be an interesting thing to have, and better than nothing, but its pretty different to using an actual oscilloscope, and will be probably very limited in in usability.
Even 'proper' USB oscilloscopes i find to be a huge pain in the ass. See if you can find a cheap old oscilloscope, even if its analog, and shabby, as long as it works, you'll learn alot. After all you don't need complex features if your objective is to learn, you just need to see a couple waveforms and compare/ practice measuring signals etc, and you'll get a better feel for it with a real one. Sometimes universities throw out old ones, so see if you can pick one of those up if there is one near you.
Are there any particular projects you had in mind with the oscilloscope?