Great location and view, but lacks amenities. The smell of bread from the neighbouring bakery is also lovely in the morning.

The other reviews are accurate, it definitely is like camping. If you are seeking luxury, you will not find it here.
Expect inconveniences from going outside to the bathroom, the smell of the bathroom, the broken bathroom door...yes lots of bathroom issues. The bed is uncomfortable and cleanliness is not the greatest. Your sheets will not be changed throughout your visit. Expect dirty feet from the unwashed floors and from having to go outside to the bathroom (always fun during the middle of the night or for your morning shower when tourists gather above for some photos).
Oia is beautiful, but expect higher prices than Thira. Definitely check out Amoudi Bay and the cliff diving. Bring water shoes!
The bus costs 1,80 but is uncomfortable and crowded. Taxis are difficult to arrange.