Hard to say really. Cheap LED array units out of China are a dime a dozen these days. Just by the nature of the beast it is pretty unlikely to totally suck; but the fit and finish and quality of LEDs may or may not be exciting. It'll probably beat your basic el-cheapo-the-batteries-cost-more-than-the-flashlight model picked up at the grocery store, pharmacy, or whatever; but an enthusiast LED light would probably own it pretty badly.
For ten bucks I doubt you would lose very hard, in all but the worst circumstances; but you aren't going to get a Surefire or anything. Depends on what you want, really.