I purchased this to put in front of my couch to use as a footrest and to store blankets that I would otherwise have draped over the couch. The pros are that there is no assembly required, you just unfold it, put the insert in the bottom and it is ready to go. There is also a small basket (that also unfolds and has a bottom insert for stability) that you can put inside it which is great for holding remotes or any other small items you that can easily get lost in couch cushions. It is also very sturdy. While I would not sit on it for hours, you can easily sit on it to put your shoes on or something like that and it does not feel like it would collapse under you.
The only con is that there is definitely an "industrial" smell to it when it is open. You do not really smell it when it is closed (at least I cannot smell it when the lid is on it), but it could definitely irritate some people. So, overall, if you are looking for a reasonably priced storage ottoman that does not have to be assembled, this is a very good option.