It may be a needle valve only, or it may be a crude regulator only, but you need both a regulator and a needle valve to make it work well. It costs less than $40, a bit more than a good needle valve costs, but far less than a needle valve plus regulator costs. I think it will work, but will need lots of attention every time it is turned on, to get the right bubble rate. And, it doesn't include a solenoid valve, so you can only manually turn it on and off. Therefore, it may be worth a bit less than what a needle valve alone costs.
Instead of looking for something like this, it is far more productive to look for a used regulator assembly, or for a used good quality regulator alone (then buy a needle valve and solenoid valve for it).