I don't think the logos created by this tool are really unique enough for an established brand or site or game or what have you, but as placeholder for a new site or game until you can have one professionally made, or even as a cheap alternative for something you never intend to push too far, the logos made with this site are perfectly acceptable.
The tool is very intuitive, clean, and while the end logos may not be the most unique they do look a lot better then I'd be able to do myself in paint. Not to mention you can make the logos really fast.
One thing that did bother me though was how the pricing works. I purchased a license for the software off of stackcommerce and with it I'm allowed to make 250 logos.
That comes across as such a needlessly arbitrary number.
I've made 4 so far in the month I've had the software, and I know realistically I will never get close to 250, so it just bothers me that they'd put an artificial handicap on my account like that. Idk, maybe there's an issue with people posting their accounts online for anyone to use. That'd kinda make sense, but even then 250 still seems like a random number.
On the otherhand, $40 for 250 potential logos seems like really good value compared to some of the alternatives I looked at including logojoy and logopony linked below which are more expensive for just a single logo. Though with that said the logo I did make on logopony while just playing around looked pretty good.
My biggest complaint however is logo iteration. Currently, each time you make a logo and want to save an iteration you need to exit the editor, find the logo, then clone it, then reopen it. It'd be much better if in the logo editor there was a simple 'save copy' button for storing iterations and comparisons.
tl;dr - Good for quick logos that are either temporary or not important enough to have done professionally.