In practice, you're stuck dealing with the sort of headaches that come with doing something unusual, like repos not having packages you want. Overall it seemed to work reasonably during the beta but I'm surprised they weren't more aggressive with pricing.
Hard to argue with the value if you are actually using the bandwidth, but otherwise not that interesting an offer from a practical perspective.
Kimsufi offers true dedicated Atom boxes with SSDs for 10 GBPs / month.
I also think that if you're "using the bandwidth", a $5/month Digital Ocean VM is probably a better value.
VMs are also bad at some specific tasks - they have issues with clock accuracy for example.
One appeal of ARM, specifically, would be that it's cheap. Sadly these are based on ARMv7, which is a lot more limited than aarch64/ARMv8 and Intel CPUs. - but hopefully they or someone else will have an ARMv8 offering out soon.
You'd be better off getting one of Online.NET's 30 euro nodes and using the Object Store from Scaleway. That is the only part of this announcement that appeals to me, tbh.
.02 euro per GB for premium Bandwidth + data storage. Compared to S3 Europe that is ridiculously good if you can eat the slightly higher latency.