I think it looks beautiful on the slouchy model with dark hair and could look good on someone like Claudia Winkelman but with a shorter upper body.
On 90% of people it’s going to look like you’ve trussed a generous ham joint up for the festive season. The proportions are all wrong unless you are extremely slim with no tits.
I would also expect natural fibres for that price, and agree washing is going to be a total ballache. Sequins will fall off. Handwashing only and very careful drying.