Store brand bikes tend to be pretty crappy but Wal-Mart bikes are even more crappy. I actually went around to the local store like Target, Wal-Mart, Meijers and Dick's to look over bikes. I saw some pretty decent bikes for not a lot of money. I found that Wal-Mart bikes were maybe $10.00 cheaper than the other places but they had cheaper made bikes. There was not a single bike I would consider buying from Wal-Mart for any price.
I found a half way decent bike at Target for about $200. It was a hybrid and for the money looked like it would serve its purpose well.
Things to keep in mind, store brand bikes are a step down in quality from bike store bikes but Wal-Mart bikes are even a step down from other stores. Simply put, Wal-Marts sells pure junk and it is not worth buying at any price.
A new bike from Wal-Mart that cost $68 is worth about $2.00 in scape metal. It is total junk. I am not sure about the bike the OP mentioned but judging from all the other bikes that WM sells, I would stay away from anything WM sells.