I bought this simply to see how cheap you can get a functioning bass, and I wanted to try something more traditional, since I usually play a MiG corvette 6 $$.
Sound: arguably the most important factor, and its best point. It sounds like a jazz bass should, the passive tone control has a wide range, and it's not dull or overly brittle. Good, warm jazz sound. However, the shielding leaves something to be desired, as it is prone to hum and hiss.
Build: sturdy built, however as you'd expect at this price, there is little attention to details; plastic parts have excessive moulded bits attached, the skunk stripe and block inlays have overlaps you can feel in a few places. Inlays are also poorly fit and not glue sealed properly.
These are minute details however, you see them only on close inspection and don't hinder anything while playing. The action was very high also, but after adjusting it is playable enough. No dead spots, though some places rattle a little more than others, so not perfect.
Features: again this is a bare-bones bass, so it is by nature lacking here; no preamps or fancy pickups. The components are decent quality, however.
Conclusion: of course the price point of this bass is the big novelty here, but I've tried to disregard it and give an objective view. It isn't a bad bass, it's playable enough, even enjoyably so after a good setup, it's sturdy, and it looks great except for the details. It is very textbook 'good enough'.
Buy if: you're a beginner on a tight budget and can adjust it yourself/pay someone to do it for you, or you really wanna try a jazz bass/recording. Serious players will want something better, I think.