The meter is indeed fairly accurate. For $100, it will tell you a rough idea of the MC.
The problem with this meter is the resolution. If the 8 light is on, this mean the MC is 7.0 to 9.0% MC. And then the 10 light means 9.0% to 11.0% MC. Or does 8 mean 8 to 10? Also, you have to make species and temperature corrections manually or mentally. You need the instruction booklet to make corrections.
With the short needles and the lack of a plug to plug in a hammer probe, you cannot measure core MC on most pieces of lumber. That is, you are measuring surface MC.
So, I think their more expensive meters and probes are more useful for many people.