It's really perfect... I wanted a small bin for our half bath and it works perfect. 
The only thing some people may get annoyed with is the lid swinging back and forth after you've put something in it. It makes a sound and it's like a pendulum going back and forth for a while. My kids find it very entertaining. Doesn't bother me. But if you were using it in your master bath during the middle of the night, you might get annoyed!