Sadly, I actually own one of these. Not very high quality but we had two grown adults on it and got it moving for a short stretch before the rear wheel moved and the chain fell off. It would probably be fine for kids but it was way too flexy for us to ride it for more that a few hundred yards. Even keeping the saddles and bars in place was tough and the fork is terrible.
If it was built like the original Runt bikes it probably would be a blast to play around on.