Feels accurate enough to me, but will probably take a little time to get used to. Personally, I think it felt a little more accurate than the CPP while playing Codename STEAM, due to there not feeling like it has much of a deadzone, even if I haven't gotten hang of it enough to feel confident in a action heavy FPS type game. Could see that maybe smaller more precise movements being easier to pick up that quick turns or movements like that, but I'd need more time to say for sure.
People complained about how inferior the circle pad was to analog sticks when they first came out too. In fact, any new input ever has people calling it terrible, rather than objectively taking the time to understand their pros and cons. I think some people just hate getting used to new inputs and/or would rather blame something else rather than have to deal with the potential of their own inadequacies, but that's for another thread.