I wouldn't be interested at the price it goes for. I'd scoop up a Casio 5600, 6900, or 2100 before spending that much for a Mudmaster.
Interesting features and comments from an antidotal perspective:
Atomic clock - It's a quartz. Set it and forget it. I don't value an atomic wrist watch as much as I value an atomic deck clock that I use to set my watches.
Altimeter - Cool feature that I likely wouldn't use often. I like to track it when hiking or mountain biking, but I'd rather track it with a legitimate GPS.
Barometer - I don't value this information hardly at all. Even shooting long range, barometric pressure has very little to do with my life.
Thermometer - Another interesting feature, most of the time I actually need a thermometer is when I'm measuring hot water or food. I'm not going to stick my wristwatch in it. Atmospheric temp is handy shooting long range, but I'd rather rely on my Kestrel or IR gun.
Digital Compass - Cool feature. Could be handy at times. I like the idea of having an extra one with you on your wrist. Could be handy hiking and mountain biking.
I typically prefer to have a specific tool for a specific job. I want my watch to tell the time, and my thermometer to tell the temperature. The features are cool if you plan to use them.
For a super tough quartz watch without those specific features in that price range, I'd look at a Sangin Professional, CWC Quartz Diver, or Resco Manus. For a cheaper option, consider a Citizen Eco-Drive Promaster Diver.
Stay away from Luminox as a whole. The one I have will be the last one I ever own.
At the end of the day, if you like the watch, buy it. There won't likely be a 'real substitute'. However, if you're just considering if it's a good watch for the money, I'd say you can certainly do better unless you want the specific features it offers.