Is it cedar or Trex? No. Is it luxury comfortable and guaranteed for a life time? Eh, no.
But sweet baby J, it seats 8 people! For $100 bucks! You are never mad at the kids for playing match box cars or play dough or spilling drinks on it.
Throw a coat of exterior house paint on it to keep the wood sealed (I prefer bright garden colors to wood stains) and throw a table cloth over it when you are ready to dine.