Technically, this is not a large format camera, as it is a 6x9cm roll film camera. However, you can get a 4x5" adaptor for it (although it's a chunky, clunky piece of kit).
The lenses are okay; nothing great, but probably good enough for most of us. Used as a 4x5, the 10.5cm lens is moderate wide, while the 6.5cm is verging on ultra wide.
IMO, there are much better ways of entering LF than this camera. If you like the LF experience, I have no doubt that this camera will be replaced with a "better" one. If you don't like it, I think you might have some trouble reselling it for this price. As I wrote, just my opinion.
Good luck, regardless, and I hope you do fall for the format!!