I have a similar-looking set from HF. Assuming they are at least of equal quality, I will say that they are excellent, for the price.
My take on buying cheap sets is: it is a great starting point. It is true that I may not use all the bits in that set, but having that wide selection has already saved me a trip to the store in the middle of a project. Some will say that you're better off spending money on higher-quality bits -- when I wear one out - then I'll replace it with a higher-quality bit - with confidence that I will actually use that size :>
(I've done the same with router bits - bought the MLCS 66-bit set a few years back. It's great knowing that just about any bit I'll ever need is in there)