Quality is an issue and I would also maybe use this to convert our abundance of vhs into digital.
If you want to convert old VHS content to digital then I'd suggest keep a watch on Trademe for an older DVD recorder that has a built-in HDD and external A/V inputs. I sold my old ones on Trademe a couple of years ago. An old Analogue Tuner DVD HDD Recorder would do the job and you should get one for well under $100. An older Panasonic BluRay Recorder with A/V inputs won't be much more. Windows 10 recognizes my Panasonic BluRay Recorder on my network and I can just drag and drop recordings for editing.
It will mostly be for recording with the occasonal vhs if possible. Iv heard of the device your talking of but it was in a catalog andbit waaround $300. In my house we don't have a blueray player just a dvd and vcr. My dads cheap.