Well, it is hard to judge this accomodation for us, in a good way :-)
Firstly, the accomodation in Megalochori is fine, it has everything you need to stay for a night or two. Althought small, it is perfectly clean, well equiped, with A/C, TV, nice private bathroom and two chairs with a table outside. And for a reasonable price (if we accept that Santorini is the most expensive place in Greece, this is still quite affordable).
Secondly, this accomodation is owned by a bigger company that has properties in more places over Santorini. What happened to us was that there was a mistake in their reservation system and this place was double booked for our first night. So instead of this cozy room in the middle of the village, they accomodated us in Grand View hotel, in a room with private jaccuzi and an unbelievable view to the caldera (thanks again guys, we will probably never forget ;-) ). Of course, this is not standard and we shouldn't rate this accomodation by our unusual situation, just saying that they will take care of you :-)