It's better than not having one.
I'm not sure about the Ryobi branded engine though. I'd prefer a B&S. According to specs it's got some reserve; you'll need the overhead to start things with motors or compressors- fridges, window AC; whatever.
It's gonna be noisy and use gas. Unless you bump up to an inverter or something with a good eco-throttle, have 20 gal. or so on hand. Also some spare oil to top it off between fills.
If you want to fo before hurricane and winter storm season go ahead. Plan your loads, get your extension cords or have your house hookup installed now. Then optest live for an hour or two, then a day. You'll get an understanding of noise, fuel consumption and just what you need vs. what you want. Break in is pretty important, so have a way to drain and refill the oil before you start the thing.
I like the folding handle, but I'd replace the hard tires with some poofy pneumatic ones, esp. if you have to wheel the thing from a shed to your hookup point. Probably just a cotter pin and some washers to do the deed.