For $40 I'm happy with what it's capable of. It can go quite loud without losing clarity and it has a nice little bass on it. Generally the sound is clear but obviously lacks the detail you'd find in a more expensive speaker and sounds can blend together in some situations, like with more sonically demanding music. But something like pop, hip hop, or light electronic all sound good enough. It's a compact speaker (though far from the smallest on the market) and the long battery life makes it stand out from other speakers in its price range.
The latency is very minimal which impressed me. It's still there (as it is with every bluetooth speaker) but it's so short you won't notice it the majority of the time, so there's no glaring lip syncing issues when watching films or youtube. This little speaker has better latency than my $300 Sony speaker.
I use this connected to a Windows 10 laptop, and it doesn't interface properly with my desktop volume control, meaning there's no difference between a volume of "1" and a volume of "100". I have to use the volume buttons on the device itself to control the volume, which of course works fine, but I'm a little disappointed by that.