Given the slow SOC and the under 4gb of ram I'd say no. Unless you plan on using it for a single dedicated task. Even then you have to make sure it's works on such an old android version.
Can't believe I'm going to suggest this, but you'd be better getting a fire HD plus tablet from Amazon. It's going to be newer, faster, and have a more up to date OS. It's not going to have an OLED display, but what good is a nice display if you can't use it. It's going to cost more than $50, but you WILL be far happier.