I have a similar chop saw, and they all suffer from crap vises, weak/flexy pivots, and low power. You can cut smaller stock, even larger pieces if you're persistent and patient, but it's far from ideal.
I try to find creative methods like loosing the whole saw whenever the boss men decide its a good idea to use it. It cuts, blades last zero to less than par- the bad is it slings stupid hot stingy sharp attacking evil chips around. The cheap abrasive saw that is almost the same is better imo.
Had one, and agree with all three of you. "Cheap seats cold saw" describes it perfectly. OK for occasional use on angle iron, etc. Thick-wall square tubing, not so much. Nothing to write home about. We got descent blade life though. We had an old horizontal bandsaw too, and the DeWalt was preferred for quickie stuff. I'd pay $50 for one if it had a descent blade on it and I was going to do some light fabrication.
I've had both the DeWalt and more recently the Milwaukee version. They spin about half the speed of a miter saw and more than twice the speed of a cold saw. This works well on stuff like aluminum extrusions and copper pipe. Faster and cleaner than a bandsaw cut.
Considerable care is needed to feed carefully on steel sections to avoid early blade failure - but there are cases where they'd be preferable to a bandsaw for someone without a proper cold saw.
The portable metal cutting circular saws with similar blade geometry and the same somewhat-too-high speeds can also be productive, if you stay clear of chips. Better ones manage to catch most of them.