You definitely get what you pay for.
Some background: when we moved to Germany, these things were everywhere. In the pedestrian zones, every kid under 5 rides them constantly. Our kids wanted one, and these came up on woot within a week. They came quickly, and the kids loved them.
That's the good part. The bad part is the materials and design. The frame is plywood and the wheels are held on by threaded rods with one, smooth nut on each side. The nuts are only held on by friction, but if you tighten them too much, the sides of the fork get shoved against the wheel so it can barely turn - there are no washers or spacers separating the fork from the wheel body. The result is that the nuts fall off, leaving the wheel free to just roll away!
Also, we let an older kid try it (over the weight limit by less than 10 pounds) and the first time she fell over, the rod attaching the front fork pulled right through the plywood. We're using that one for spare parts now.
If you check the nuts before each ride, you can probably get away with using this until your kid learns to ride a pedal bike, then throw it away. If you plan to keep it for more than one kid or use it for more than a month, spend the extra money to get one that's built properly.