Well, it depends on what you're looking for in a rep, maybe. No one is going to accuse this watch of being overly accurate, but I've had watches with Asian 21J movements run for a surprisingly long time. It's probably not one you're going to be wearing in ten years, but at least you didn't pay $1000 for a AAA super double deluxe rep.
That movement looks more like a 2892 clone than a standard 21J you'd find in a $108 watch, so I'm kind of curious if it will actually look like that. That doesn't look much like an IWC movement so I wouldn't go out of your way to show your watch-savvy friends, but for a nice-looking dress watch you could do worse.
I no longer buy the cheapie reps because I'd rather focus on watches that have a good chance of lasting for some years and warrant servicing, but it's not a bad way to start looking at reps. The only thing with many of them is that they're frequently not quite as accurate as some more expensive ones, often coming down to the date wheel on these less-expensive movements.