I know bits will break and I know I'm saving for a 'proper' one but it's really fine for me right now. I honestly find it way more fun than I expected to. Love it!
Nothing wrong with your bike mate, it IS a proper one. The only sure-fire things you get if you pay more is perhaps less weight, and a brand name. The first makes things very slightly easier, the second makes no difference at all. Ride it, enjoy it, and don't listen to the bike snobs. Upgrade when you're ready, not when someone else tells you you should.