Zero experience, as I generally avoid buying at Walmart.

If the weight is acceptable to you it will probably work as well as any other cheap tent, in fair weather. No idea what it would do in rain or wind. The pin and ring connectors - man, haven't seen those in a while. Looking at the picture I wonder what attaches the inner wall to the outer, and how close it is to the fly. And whether that makes it a real condensation trap.

I'd take that money and buy materials to make a sub 2 lb tent - Ray Way has tarp and net tent kits, Henry Shires posts his original tarp tent pattern for free, and Quest has a bilgy tent pattern they sell. But that's me - happy to poke holes in my fingers and try to sew a straight line to save money and weight.