I would not call myself a band guy, but I do love guitars and especially shopping for guitars. I'd probably call myself a semi-professional guitar shopper.
It's a reasonable deal IF you want it as a Rams item. It's an entry level guitar, you can buy similar guitars anywhere for somewhere in the $250 ish dollar price range. I'm not specifically familiar with the Woodrow brand, if you google them you come up with a lot of electric guitars in the sub $500 price range, but I couldn't find any acoustic models.
Obviously, I've never seen one... but I suspect you could get a better guitar if you want something to learn on for the same or less money, but if you want a Rams guitar this is probably your only option. I'm going to guess that as a guitar, you're paying roughly $50 to $100 for the Rams theme.
Those are Oklahoma prices btw, your mileage may vary...
Aries
~Sign of the Rams