I think ride-ons are reviewed somewhere on MN.
We've had a similar Chicco one (not as padded though) and it is still getting a lot of use. However we found that some of the combinations (ride-on with parent handle, for example) we used very infrequently as we also had a trike with handle for short outings which ds passed down to dd and she preferred. Also we had alternative push along walkers which seemed more supportive and manoeuverable. However it has been used as a rocker and indoor ride-on a lot.
I think you'd need to determine how much you'd use the various permutations to judge whether this model is the best value for your lifestyle as some of the cheaper ones might suffice instead.