That's a rubber dome Model M. Yes, such things exist, and they are supposedly quite bad even by the standards of a regular rubber dome keyboard. Same seller sells what appears to be a buckling spring one for $10 more, but it has the picture and description from the rubber dome one, so it's a bit vague.
Debatable. Not ideal, perhaps, but suck is too strong a word given that people play on them just fine.
How do the keys on this board compare to the keys on say the BlackWidow?
The Black Widow and many other popular mech keyboards use Blue Cherry switches. Buckling springs and Blue Cherry switches are both very well regarded, some prefer one, some prefer the other. In regards to people who have tried both - those who prefer the buckling spring usually cite the crisp and substanial feel of them, whereas those who prefer the Cherry usually like the fact that the Cherry switches are less stiff.
Either way, with a few rare exceptions, buckling spring keyboards are far better built and more durable than just about any Cherry switch keyboard, and the mechanisms itself are more durable and likely to last longer. (Blue Cherry switches are rather fragile)Edited by ch_123 - 1/16/11 at 12:25pm