If that's all you can afford right now, go for it.
My first fly rod was actually a Berkley 8'6" 6/7wt rod that I bought at K-Mart for about $25 back in 1980 something. Not a whole lot of money to lose if you find you're not interested in fly fishing. I still have that rod and when my St. Croix 5wt broke, I had to send it in for repair. I used that old cheap rod and caught a LOT of trout on the White and Norfork.