It's a good place to start.
My first 10 speed was a Royce Union from Zayres(a defunct big box economy chain). I couldn't see why I should spend more. It was maxing out my budget anyway.
The biggest problem I had with it was that the screws were so cheap that they all stripped pretty quickly. My next bike was a used Peugeot. Much nicer. It just felt nicer.
So keep riding. When you need a better bike, you'll know.