Personally, I would be a bit wary of such a sparsely spec'ed mic. I guess they are so cheap that it can't hurt to try, though.
With respect to the correlation between price and quality, it might not be one, but it is certainly pretty high. Maybe 0.8 or something. There are a few examples of gear that considerably over- or underperform price, but, generally, there is a pretty strong relationship. Of course, there are other factors to consider, such as budget, ease of use, and (importantly) the taper's expectations/demands for a certain quality. A lot of people are happy with internal mics or iPhone recordings, so, for them, the investment in Schoeps seems pretty ridiculous...