Provided it works, the Philips will be much better than having no scope. The 50MHz is slightly lower than desirable for logic, but usable if you aren't verifying signal integrity and don't need to see short pulses.
It has the advantage that it is simple and easy to learn how to use it, unlike more complex scopes.
With a little ingenuity and discipline, I expect you will be able to do what you need for a while - and then you will be in a better position to understand what you need next.
By "ingenuity and discipline" I mean use exactly the same thought processes that you would use in software development without an all-singing-all-dancing IDE. Basically, develop in small steps, know your tools, and use each of their advantages to counteract other tools' disadvantages.