Totally worth the price!  This little cupboard is so cute.  It's true that it's not hardwood...the drawers are similar to the fabric cardboard stiffened, collapsable storage bins used in furniture cubes; however this looks far more luxurious than the normal furniture cube.  Living in a very old house, I also appreciate that the legs have screw in bottoms that can be raised or lowered according to the slope of your dwelling, and they're similar to furniture sliders, so I don't think your floor will get marked up by this unit.  It took me 45 minutes and 2 beers to put together.  I did not need a 2nd pair of hands or any extra tools.  I wouldn't have paid $300 for it; but it's definitely worth $100 and some.