I feel like the Chinese have made and sold enough music gear on behalf of other manufacturers over time that they can technically make the products, but I don't think they understand the market so they will be flawed and toy-grade for a while until they hire some consultants and carefully study the various portable MIDI gear that has succeeded over time. I'm not sure what the electronic music scene looks like in China but I would suspect most of the people involved still use non-Chinese gear and software.
This thing is absolutely worth the $$$ once you install Sloop on it but I regret having bought one only because I'm getting way more mileage out of using a small game pad to drive the iOS port of Dirtywave M8 (and am probably going to buy a hardware unit when they restock). Personally I enjoy the tracker workflow and chopping samples infinitely more than doing the sequencer thing on a tiny screen but I can't argue that this unit is very powerful for how cheap it is.
I think that's actually the built-in speaker?