The first thing I do with a balcony set is grab a chair and try to wobble it on uneven ground, because that's exactly where it's going to live. Most balconies aren't level, half of them slope toward a drain, and a set that rocks in a showroom is going to rock for real once it's outside your sliding door. I also check the weight, since anything I can't lift with one hand is a set I'm never going to actually move when it rains, and I'll just leave it out there to rust.
Where this kind of set falls short is anywhere you actually want to seat more than two people comfortably, or anywhere exposed to real weather without a cover. A narrow two chair bistro set is not going to survive a winter in the open, and it's not going to work if you're hoping to host four people for dinner, it just physically can't. It's also the wrong buy if you're picturing something sturdy enough to double as patio furniture for a yard, those are different jobs even though they get sold next to each other.
This is really apartment furniture, rental furniture, the kind of thing that makes a six by four foot balcony feel like a room instead of a fire escape with a view. It suits small households, morning coffee people, anyone whose outdoor space is really just one good chair and maybe a second one for show. It earns its spot best in spring through early fall, and it's genuinely one of the few pieces that can make a tiny rental balcony feel worth sitting on at all.
A folding set like this sits well with a small potted plant or two, a cheap outdoor rug cut down to size, and not much else, because the whole point is that the space is small to begin with. I've had the same set survive a move in the trunk of a sedan, a summer of iced coffee rings, and a winter I forgot about until March, and it still folds flat and wipes clean. The one mistake I'd actually warn you off is leaving the cushions out overnight even once, because that's the one thing that doesn't wipe clean, and by the second storm they're done for good.