Obiously you shouldn't go into this purchase thinking you're ending up with a top-of-the-line product that could compete with an actual Fender Stratocaster, however, for less than 1/10 of the price of one, it is an amazing guitar.
Right out of the box, the guitar is perfectly set up. No sharp frets, straight neck, no paint-job fails - flawless QC.
The sound is OK. With a certain amount of messing around with amp settings, EQ, and such, it can sound pretty good. I found the guitar tends to do better with clean tones, rather than distorted ones. The one thing I dislike about the sound is that there is just too much treble (on the humbucker too) which can make dialing in tones a pain.
Hardware-wise it's ok, nothing spectacular. The tuners hold the guitar in tune better than I expected, however, they aren't the most pleasant to tune with. The pickups are cheap, but get the job done. In addition, while I like that there is a whammy bar bundled with the guitar, using it is another matter. If used to achieve slight vibrato, it's fine but will eventually detune the guitar. Don't expect to be doing any dive bombs with it tho.
Overall, it's a solid guitar and the fact it doesn't even cost 100€ is baffling. It is obviously aimed at beginners, or maybe just someone who wants a wall decoration, so if studio work is what you need it for, you should probably look elsewhere.