$65/£50 gets you a fully connected, high performance microcomputing platform that can be used for a wide variety of applications. Here is a brief list of the key specifications:

Processor: 1.2 GHz dual-core, MIPS32-based Ingenic JZ4780 SoC, 32kB L1 I- and D-cache, 512kB L2 cache
FPU: IEEE754 Floating Point Unit, XBurst MXU
Multimedia: PowerVR SGX540 GPU, hardware-accelerated video playback up to 1080p at 60 fps
Memory: 1 GB DDR3 SDRAM, 4 GB flash memory, 1 x SD card
Audio: AC97 audio, via 4-pin input/output jack and HDMI connector
Camera interface: ITU-R BT.645 controller
Connectivity: 10/100 Ethernet, 802.11 b/g/n, Bluetooth 4.0
Display: 1 x HDMI up to 2K resolution
USB: 1 x USB host, 1 x USB OTG device
I/O peripherals: 2 x UART, 25 x GPIO, 2 x SPI, I2C, ADC, expansion headers, 14-pin ETAG connector