It isn't a watch enthusiasts are going to get real excited over, but if you like it and you can find it for a reasonable price, then by all means get it.
However, Personally for the ~$500 the automatic you showed there costs, I might look at other brands such as Seiko, Hamilton, and Mido.
Mido for example, makes one kind of similar to the one you have shown, but is chronometer certified and uses the ETA 2836-2 movement.
Shown:
http://www.watchesgalaxy.com/store/mido-swiss-all-dial-watch-m83404b11.html
I also have a problem with buying watches that are only 30m water resistant (such as you Mondaine there). I really prefer to see 100 M or greater, sometimes for brands like JLC, I will settle for 50.