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Any opinion on this rare bass?

If you want an instrument to hit people with that are coming on stage and threatening you with bodily harm (), then this bass will probably fill that role, and keep your good bass from being damaged in that endeavor. But, you might want to investigate the neck joint integrity, as it might not survive too many uses.

There are reasons why things are rare. Sometimes, the manufacturer stopped making them because....nobody wanted them.
 
Those 70s MIJ knockoffs are all over the place quality wise. Some are great, some are awful and unplayable. My first bass (and I still gig it) is a very solid (and spot on) P copy of unknown year, but probably late 70s or early 80s. You'd need to play it to be sure, but the one in the pics just has an overall look of shoddiness about it. I think you could do better for 200 bucks most likely
 
As was explained to someone I know and love by a Sargent in a large city " You need be discerning enough to determine when to walk away and to run away".

Their are many $200 basses that are better than that one.
These were, after all, the class of instruments that initially fueled the "all imports are crap" opinion base - no longer true, wasn't even true then, but this class of import, yeah, they were crap. I remember them well (and not at all fondly) from the first couple of bands I was in in the early 70s. Wouldn't stay in tune, buzzed like hell, sounded thin and tinny, hard to play, too. Blech. Then again, one of the first basses I bought for myself was an import, Epiphone EA-260, a fine little bass, not top quality, but playable, fun, sounds great. But these like this one here, nope... the tuners give it away.
 
I was offer a Fender MIM for about 320 ( haven't test yet ) and saw this ads , I was thinking if it is a wise choice to choose this over the Fender and save the 100
You need to buy with your ears and hands, not your eyes. Without actually trying both basses, you have no idea if the MIM is worth $120 more or not. They might both be great; they might both be crap. ;)
 
I spotted a similar bass for sale locally with a "Cortez" logo on the headstock (I know about the Cort/Cortez connection, but this one is not Cort quality.) The action is fairly awful and I'd be surprised if the truss rod does anything, body is almost certainly plywood, but this one has (properly fitting) pickguard that nearly brought tears to my eyes, gorgeous piece of plastic! I still passed at $120... A Squier Affinity would be a functional improvement in every way.
 
I think I had the P bass cousin to this bass (my second bass).

It was better than my first bass which I built in woodwork class (every bass I have ever played was better than that). It was far worse than my next bass - 62P (no surprises there)

It was playable and I gigged it for a few months but the truss rod nut was frozen. Being young and knowing everything I kept turning until I sheared the rod. Some kid bought it from me thinking he could repair it.
 
I would not pay $200 for that. But then again the only reason I'd buy it would be to flip it on Ebay, so I'd be looking for a much better deal.

Pickups are good if they're DiMarzios, which they look like they are. Otherwise, it's anyone's guess.