We have stayed there in high-season. It was on holidays 2012 and we payed about 10e per person for one night. I think it was a good price. We didn't expecting so much. So I can show some advantages and disadvantages:
Firstly, we get our code to door by sms. It was very comfortable becouse just after landing in Budapest we could go inside. Secondly there was kichen and dining room open to use. We could bring some meal and prepare it by ourselves. Thirdly there was wi-fi access, for everyone, for free, no limits.
As far as disadvantages are concerned it is quite far from city centre. About 1,5 km and by foot it is about 40 minutes of walk. We also get room without any windows so it was little bit stuffy and it could be problem for some people.
But if you have a good deal it is a good choice in my opinion