I disagree......it depends entirely on what you're going to weld with it. If you're trying to weld 1/4" thick angle iron or such, no it's not going to cut it - but for sheet metal or light duty, occasional home shop stuff it might be perfectly fine.
However, I think the problem is the flux core wire - try one with gas and you'll see what I mean.
However #2, I don't think you can get a good gas welder for $300
My little Clarke 100e cost about $400 back in the mid 90's, it still works fine and does everything I need it too - but I did buy the bottle and I run light .023 wire in it - it's best on sheet metal or up to 3/16" stuff.
Here is an example of some work I did with it, this is 3/16" thick tubing....
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If the HF is working properly, more times than not it's the person wielding the torch that's causing the issues- that and flux core is never going to lay down a clean bead like gas shielding will.