I have one that I found on craigslist similar to that. On the up side - I like that one better BECAUSE it has a shelf and the height is adjustable. On the down side I too think it is pricey.
Mine is stable for a work surface and was the perfect size for the large olfa mat. I used it a lot for cutting. I would not want to sew on it (just my opinion). I have retired mine as I am tall and needed more height. I went to Ikea and purchased a Formica table top and four adjustable legs for less than what that costs. My new setup however does not fold as the Walmart one does.
If you need it to fold - Joannes also has one - that is cheaper. This is like the one I have. It is currently as I post 50% off. Again no shelves - but you can purchase loads of plastic tubs for $150!!!
http://www.joann.com/home-hobby-table/xprd830869/