No, I wouldn't buy one.
It's very plastic and has a very small wheel, so better suited to younger people or those with small hands. The pedal set whilst not a deal breaker is only 2 pedals, so you would have to race in automatic or assign a button and the wheel for the clutch.
But the final thing is it isn't a force feedback wheel, just rumble, so the wheel is really just a standard wheel shaped PS4 controller really and does nothing more.
It's also not fully compatible with all PS4 racing games. It's the official Driving Club wheel, so naturally it does work well with that game. It also works well with The Crew. However it isn't compatible with GTA 5 if you play that. Also the next PS4 exclusive Gran Turismo isn't out yet so we don't know if it will work with that yet.
Best to wait a bit until either more of the existing better PS3 compatible wheels are made compatible with the PS4, such as the Logitech Driving Force GT (I'm hoping), or for more money something like the G25 or G27, or once GT7 is released a proper official Logitech wheel gets released.
In the mean time, if you also own an Xbox One then consider looking at the Ferrari wheel. This is a very nice wheel and it fully compatible with all other interchangeable parts from the maker, including their F1 wheel and their 3 pedal set.