The price is reflective of the workmanship/item as it is kinda cheap and not that premium in real life.  It is also really close to the ground so it is hard to get in and out of for tall people.  It doesn't fold all the way down vertically so it is hard to transport as the only way to transport it is completely flat.  It does have a pocket for the legs so you can transport those easily without loosing them 

Pros: Inexpensive, works well for what it is
Cons: Can't fold down small like a traditional futon