It is a decent laptop.
Acer makes affordable of average quality. Nothing particularly out of the ordinary, but nothing bad either. It is difficult to say if that particular model is reliable because it usually takes a few years to determine how well a particular product is in terms of reliability. Asus makes a similar laptop that sells for $620. In general, Asus laptop have better build quality over Acer, but build quality varies depending on the specific laptop model and both of these are budget laptops. The Acer has a 4 Egg rating based on 64 reviews while the more expensive Asus has a 3 Egg rating based on 36 reviews.
http/www.newegg.com/Product/Product.aspx?Item=N82E16834232793&cm_re=asus_940m-_-34-232-793-_-Product
The Asus has a slightly newer CPU, but the same nVidia 940m GPU so there should not be much of a difference in performance. The nVidia 940m is not particularly powerful compared to "gaming GPUs". It is considered a mainstream GPU and is generally capable of playing many current games 1366x768 / 1600x900 resolution using low or a mix of low & medium settings. It depends on the game. Non-demanding games like CSGO, Minecraft and LoL can be played at 1080p with high graphic settings.
I play Star Trek Online (free to play game) with my laptop that has a slightly more powerful Radeon HD 8850m which can easily handle the game at 1600x900 resolution with mostly medium settings. I have also played Skyrim and Fallout 3 at 1600x900 resolution with medium (Skyrim) / medium & high (Fallout 3) settings with pretty good results. Fallout 4 is a very recent game and it can be played at 1600x900 resolution with a low & medium settings. The nVidia 940m is overall slightly less powerful than the Radeon HD 8850m, but the FPS performance difference would be probably only be 5% - 10% less at most; or at most 4 FPS in my opinion.
Here's a review of the Acer Aspire E5 laptop.
https/www.youtube.com/watch?v=z5RpHEWLpkQ