Cool, and it's only $200 and inherently lossy.
Not to mention Chinese. Very Chinese.
Its cheaper if you click around found exact same thing for $80 and $60 shipping. Still cheaper then wiring 240 at your home, or if you live somewhere where you can't get 240 volt.
No, it isn't cheaper, and it won't give you any of the benefits of running proper 240v besides getting the bitmain PSU to power on. It's a very bad idea for mining.