That's an ordinary "off-hand" grinder. You can roughly shape cutters for single point cutters (e.g., lathe work) and even dills, but it is not particularly accurate. As the adage says, a drill "follows it point." If you want to sharpen drills, then to drill accurately, you need an accurate point. That is only one example.
What do you want the grinder to do? Attached is what I use for more accurate grinding. One of the wheels is diamond impregnated for hard stuff, like carbide. For sharpening drills, I use something else to ensure both cutting lips are equal with the same relief. Now, I have seen expert machinists who can off-hand grind a drill fairly accurately, but I am not one of them.
The second attachment is an SRD grinder that I use for drills. Milling bits need something else. There are several types of grinders for drills, I liked the SRD as it is easy to change to tip's included angle.