I think many cyclists think of these as two distinct categories: a commuter and a "beater"/errand-running. Commuting is between home and work, and in the OPs case both are secure locations, so the bike is fine as a commuter. But yes, the swank/pricetag factor will affect the bike's use as an "errand-runner".

You could run errands on the way from work with that bike, but they'd have to be pretty quick. Dash into the grocery store to pick up a loaf of bread, swing by the dry-cleaner's, mail off a letter - no problemo. A two-hour dental appointment - hmmm, yeah, not so much, I'd be a little apprehensive.