We lived on this stuff in Boy Scouts... for probably several years, until our Scoutmasters discovered Backcountry Pantry foods. I have it around mainly for late-night munchies, or if I'm too tired to think of what to make for dinner. So I guess in that sense, it's OK. The bag is pretty lightweight though, so ripping might be a concern. Also, the nutritional value is pretty low. It's good "filler" if nothing else.
It's also GREAT after a night of drinking; the fluids and salts do a good job of keeping the hangover to a dull roar

But, i usually only put in half the spice packet. As OBG said, it's sodium content is astronomical.