Most Hardinge are good tools. Provide this one isn't worn out, there's no reason why it shouldn't be good too.
Sure, it is what it is, and there is stuff it won't do, but using a little tool like this sometimes just needs a different thought process. When I first started using capstans for example, I thought they were a bit limited, but when I understood how the tooling really worked I was flying!
Sure it won't screw cut, but it will cut a screw thread with a die in a die holder, or a roller box (yep, they do make 'em that small) and it would be fine for learning how to machine.
As for price, well I'm not in the U.S. so I don't know what prices are like there, but here in the U.K. prices for small machine tools that anyone can install in a shed or garage have always been proportionally higher than for big stuff. The last few years in particular has seen prices soar!
Unfortunately, many machine tool dealers have a shipping container destined for China, and below a certain price anything that works get's chucked in, which tends to establish the bottom of the price range here! Nothing that functions goes for scrap!
A full set of Hardinge collets has value for a start. Add the other accessories and the base price of the machine is still high, but not drastically so!