with a unit like this, you need to consider the intended usage and use a little common sense about this. if you're uttering the name of a welding machine manufacturer that sells units costing as much as a small car, you're comparing apples and oranges. these units should not even be considered if yo are thinking of using it to fabricate anything, or something that you intend to do often.
however, a unit like this is going to be a godsend if you have anything made of metal that may need to be repaired, where perfect appearance and 100% strength are not required. if you have a hobby farm, or anything even remotely resembling a tractor, then something like this will probably be very handy.
if you break something that requires more than duct tape for a temporary fix, and have to call a portable welder in, or haul the broken item to a shop, you've probably lost several hours of time, and what you pay to have a repair would have paid for one of these little units. myself, i prefer a 120v wire feeder with flux core, but thats a bit higher of a price range. if i was on a budget, one of those little 120v sticks would be the ticket.
many people swear by their 240v mig with the big gas bottle and roll around cart and 240v stick, but when something breaks outside on a windy day, that mig with gas flux isn't worth much more than scrap weight. also, when a friend with no mechanical capabilities calls and has something broken at his house down the road, those 120v units can get up and go in a hurry. odds are he doesn't even have anywhere to plug in the 240v unit.