Totally depends on your style and preferences. I like it and would happily work it into rotation. But I'm the type who thinks her bright red coat is a "neutral" and an "essential." Seriously! Without a red coat in my closet I feel lost. Apparently, opposite to Jules, I have a very high tolerance for statement outerwear!
I once had an inexpensive faux shearling plaid winter jacket. Lightweight, easy to wear in the car (at a time in my life when I was commuting by car). And fun without being crazy. (Like this ocat, it was in neutrals.)
Oh, I loved that jacket. I wore it to death the first year, and wore it a lot the second year. Then I was done with it. But at the price point, it still earned its closet real estate.