it depends were you got it, if it is from somewhere like just flutes or another music shop then it is likely to be a reasonable student instrument, but however if you got it from ebay, sell it whilst it is still in good condition and get yourself something better!(see other what flute to get posts)

I too saw those flutes on ebay and at target.com. I always wondered if they were good flutes or just cheap-o's which I believe they are. Some of the people want so much for them and they will probably just fall apart. I play a Yamaha 225 Nippon & Gakki which I love, it is from the 80's but I feel that things were made so much better back then. I am not sure about the new Yamaha's but as I get better at the flute I will probably want a better/newer model. I will see I have only been playing 1 year and am getting pretty good but would like to add more harder songs to my list of music I can play. Off to search for some music, bye all.

I cringe now that I think back on when I was younger and how I wanted a purple and gold flute that I once saw on ebay!
Don't worry about your flute, if your a beginner and it gives you something to practice on, then once you upgrade to something reputable you'll see such a huge difference.
We all gotta work with what we got for the time being