That bike is what it is. Very entry level. Bikes like that are a dime a dozen in the US.
Also, there a plenty of European brands in the US, but they tend to be in the higher quality range.
Peugeot used to really mean something in the biking world (at least here in the US). As a matter of fact, I feel like buying this thing right now:
http://bend.craigslist.org/bik/3578960347.html