No it's not a serious tool, however, being an owner of this toy camera, I can tell you than even though it's wound by a rubber ring (which shocked me with how strong it actually is) it is a very very smooth movement, and comes with a spare ring. And I personally know someone who's had one for quite a long time and it's still smooth as anything, there isn't even any signs of wear when we just took their ring off. Yeah, it's a bit to early now to tell, but it's a toy camera, if in a year or two it kicks the bucket, nothing less can be expected. It's just a bit of fun, more aesthetic than anything. I'm not a 360 spinner preacher, i'm primarily a medium format shooter, but as a novelty item, that can do some pretty interesting effects on fairly cheap film it shouldn't been looked down on too soon.
TL;DR- It's not a serious tool, but it's not a flimsy item.