For something costing 300 yuan, being able to see the standing wave ratio (SWR) curve and Smith chart tuning for the antenna resonant point alone makes it worth the price. This is very useful for building, setting up, or repairing antennas.
Furthermore, it can also measure the bandwidth of various filters and device/transmission line losses. It seems that it can also measure phase to use for things like power dividers, effectively covering all basic measurement needs for amateur radio, besides the performance of radios (which can be measured with an SA).