We booked this place for it's value, and if that is a priority for you, we recommend it! It certainly won't be the most comfortable place you can find, but I do think it would be hard to beat the value.
The hosts (it's run by an agency) were great communicators and the check-in was very smooth. They allowed us to check-in early, helped us with our bags, and helped orient us to the area. Great experience there!
What we loved: there is a nice large private patio with a comfortable table and chairs, the view is fantastic (although not the sunset view), and the location is great. You are within a short walk of the famous sunset views, restaurants, shops, the bus stop, and mini grocery stores.
"You get what you pay for aspects": The biggest thing we did not realize from the description is that every individual room is separate and not connected except for by the patio - so you have to walk outside if you want to leave one room and enter another. It wasn't very comfortable having to put shoes on to go to the bathroom, or even find your way to the bathroom in the middle of the night. Also, a small thing, but the hot water tank was rather small - about 5-7min of continuous hot water.
The mattresses are resting on concrete and are rather hard, and if you are planning on doing much cooking, be aware that there is no oven or frying pan.
Again, overall a good value, but it will feel more like you are indoor camping then relaxing in luxury. But it is a very affordable way to stay in a great location in Santorini!