i'm in your conscience
I think it might be good for like what Triforce said. Collectors, people that don't have a regular Wii, or those without sufficient funds to get one, so in the case of the latter, it's a nice gift if you're on a tight budget and have a child or someone that really wants one. It skimps out on a lot, but hey, for the price and since there are plenty of great games in the Wii library, it's not too big of one to pay.
I myself wouldn't buy one, even for collecting purposes, but I think it has a decent enough market to appeal to.