4-Star rating given considering what this bass is (or reasonably can be) compared to high-end bass brands/models. If you like a Jazz bass this model offers a lot of value. In 2021, you can buy a MIM Jazz Bass for $350-500. with this price point, it is easy enough to do solid upgrades and still be far below the cost of a USA-made Fender jazz bass. It is a good 34" scale bass, Rosewood fingerboard, Maple neck, Alder body. Overall playability is good. Weight comes in just under 10 pounds.
Firstly, it is a Fender product so it is a well-made product. As a Standard (MIM) it is not nearly the same quality as a USA-made Fender bass, however; it offers a LOT of room for performance upgrades. The single greatest issue is that pre-2001 models were made with two identical-sized pickups. The pole-to-string spacing is off and the tone is rather lame. Expect the older stock pickups to have an output between 6.4 and 7.2 . . . not very good. Upgrading the pickups is relatively easy and will get that output in the range of 8.5-9.8 with a great tone. Depending on the set of replacement pickups you buy, the bridge pickup cavity width may need to be routed out approximately 1/10th of an inch. In our experience, Lindy Fralin jazz pickups fit without routing. When comparing Fender, Seymour Duncan, Lindy Fralin, Aguilar, Rio Grande, and a few others the 2021 price for new replacement pickups ranges from about $150 - $240, obviously a used set will be less.
The stock circuit is good. Tuning machines are standard Fender open-gear (chrome). The bridge is bent steel (chrome). No complaints on any of these, but yes, these items could be improved.
The best upgrades to consider are higher output pickups and a high-mass bridge. Other upgrades to consider are tuning machines, strap buttons, control knobs. Adding a chrome bridge cover or thumb rest are inexpensive ways to make it look even better.
Generally speaking, in 2022 you should be able to buy a used pre-2021 Fender Standard Jazz Bass, upgrade pickups, do a setup and new strings for under $700.