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Is my Bass any good???

Learning on a learner serves several purposes. In a way I look at it like wearing ankle weights and training for a marathon. If you enjoy playing and progress naturally, getting a quality bass that suits your needs will be like knocking off the ankle weights.
As an analogy: when I first started kayaking, my more experienced friends said I should get a "real" paddle, not the junkers that came with my rec Hobie. I tried theirs, and I just wasn't familiar enough with paddling in general to really tell the difference. A few years later, I scored a great paddle on sale, still not thinking it would make much difference other than weight - wow was I wrong. I kept the Hobie paddles as "back of the boat" spares, but other than that, I'll never use those oversized soup spoons again. :D (Long story short, I couldn't tell the difference at first, asked questions like OPs, and that was good enough until I could tell the difference.)

If you outgrow this bass, you'll know enough to know when you do, and know what you want next. (even shorter way to say it)
 
I like that bass. Not only is a good first bass for a cheap price, it is somewhat collectible. You made out really well. If you really like being a bassist than you should save up for a real Fender Jazz bass or Precision bass. I just mentioned those because you have a copy of a Fender and you will find a Jazz bass familiar to you, but don't limit yourself to just Fender.