The stick welder isn't ideal for most brew-related stuff, but as some people have mentioned it is do-able. I wouldn't go out of my way to get one, but if it's a good machine for a good price there's nothing wrong with having it. Worst case scenario, if you find it's not working out then sell it and get your money back (and if it is indeed a good deal, you may even make a profit to go towards another welder). And as someone also mentioned, you can add a torch and bottle of gas to some stick welders and do TIG.
Even if you stay with stick, it is possible to do thinner materials and different metals. It's not as nice as MIG, but if you're welding up a brewstand there's nothing wrong with stick welding it. You can also stick weld SS if you buy the proper rods (I've heard of stick welding aluminum, but have never done it so I can't really comment on that). I wouldn't recommend stick welding any sanitary fitting onto an SS pot, but don't let anyone tell you that you can't stick weld SS. Like anything, it's just a matter or knowing what you're doing. Get the right type of rod, the right size rod and set the heat right, plus practice a little bit.
What else might you use it for ? Like I said, even if it's not great for brewing projects there's nothing wrong with having it. I have a Millermatic 135 (110V MIG) and I love it, but I would be hesitant doing anything structural on steel heavier than 1/8", or maybe 3/16". And while wire-feed is nice to use, a Lincoln stick welder is just a better machine than a Harbour Freight anything.