I think by 1991 standards he's awesome!

He's basically a massive Optimus Prime toy that transforms into a truck (which can roll on battery-operated treads) and also transforms into a Micromaster battle station play set which you can attach to other Micromaster playsets (e.g. stations, bases etc.)! It also comes with a Micro Trailer which can be stored inside.
Micromaster Hot Rod is a neat little figure; it's interesting to see how 1991 G1 designers have interpreted a large boxed figure from 1986 and re-engineered it as a Micromaster. Similar to how we now admire the re-engineering of larger toys into Legends, you think, "Wow, it's cool how they did that." Obviously the toy isn't as well made as contemporary legends because the toy is 18 years old now (the transformation scheme is the same as say Swindler or Blackjack) - but within the context of the time it's like comparing a large figure w/ a Legends.
