It's a very nice DAW If you're just getting started with production. I'd like to add that coming from Ableton live it was very easy for me to integrate myself into it.
For my work that required a lot of compression, EQ-ing and layering, it didn't last very long until i realized i already had to upgrade. A DAW without sidechain compression won't get me very far. As well as it's quite limited with Instrument tracks and midi tracks, which is a crucial point to my work.
That being said, you do get what you pay for and i would recommend it for those who are new to the scene, or have less complex work or ideas.
Cubase 8 (Even Elements), is probably one of the world's best DAWs, with over 25 years of expert work, a clean and simple interface, and an even greater sound, Cubase is 100% something I would recommend to anyone, whether you're a producer just starting out, or a pro, Cubase should be perfect for you. Although it does take some time to get used to how everything is routed, as well as learning how to set up your audio properly, once you have the knowledge, you have everything you need to get cracking on your new track. For the price, it is, in my honestly opinion, the best DAW I have ever purchased.
I use this software every day as my go to DAW of choice, and it does everything I need it to do even though I have the LE edition and it doesn't have Apache SX built in and this is somewhat annoying. Also the fact that you have to pay extra to have MP3's on license is I think a bit silly. Cubase 5 had MP3's so why do I have to pay extra for it with a later version.
I've had my eyes on Cubase for a while, but have never really been able to afford it. I was recently able to get it with my Christmas money, and I'm so glad that I did. It's absolutely awesome for arranging and mixing. Not that designing sounds or routing things is awful, I just found the workflow for arranging is amazing.