This is an Intermediate quality bass, but closer to entry level than the Schecter that I use. P-Basses have been an industry standard since the 60’s, and you’d be hard pressed to find a professional bassist that doesn’t own at least one of these kinds of basses, even if they have other basses as their main instruments. 

It has the classic look and sound that has made it the industry standard. It’s also easily customizable (if you’re into that) due to how popular this type of bass is. The split pickup has a unique sound and is hard to replicate with other types of pickups.

Since so many bassists throughout history have used a P-Bass, it’s easy to only need this bass for your set. It’s useful in covering a wide variety of songs, even with its limited tonal options. 

The Limited tone options can be a blessing though. The one tone knob is typically all or nothing in practice, but doesn’t have to be. It’s easy to get an accessible tone that works for most songs, which is great for players of all skill levels, not just beginners.

One potential draw back is the number of frets. There are songs that can go outside of this fret range (more common for guitar than bass (I find this a lot for solos on my stratocaster)). One song that goes up to fret 19 is For Whom the Bell Tolls by Metallica.

Another aspect of the different number of frets is that the spacing is different than a 24 fret bass. Often, this results in the middle of the neck being more comfortable to access, while the first few frets are harder to play with one finger per fret. 

I will say that the Squier brand has a perception by many as being an inferior brand. This is likely due to the quality of the starter pack instruments, or other base lines of theirs, in addition to being the entry level version of Fender basses (who owns Squier). That perception happens a lot with Epiphone as well, being seen as a cheap Gibson. 

Only other bassists (maybe guitarists too) would likely care about that. I actually could have purchased a fender instead of this bass, but I liked this one is sounds and feel much better than the baseline fender I tried. This sounded great, and felt really great to play. Admittedly, I didn’t like P-Basses before this one. I never found one that I liked the sound of. The only one before this that I liked the feel was an old, basically antique, bass that was way out of my price range. 

Good, but also standard advice, is to go try out a bass in person before you buy it. The line of basses might be a good line, but there’s always the chance for quality control to drop the ball on the instrument you’re interested in.