These kinds of machines don't make very good espresso, which is all about getting incredibly precise control of the process. This one is quite a bit more stylish than the cheap aluminum ones, but it won't work any better.
The minimum-cost machine that will make decent espresso costs at least $450, and on top of that you need a decent grinder in the $200-400+ range. Even with such machines, it takes some experience and no small amount of technique to consistently produce good coffee with one of these. You don't get features like double boilers (one for steaming, one for coffee) and double-walled steam heated portafilter (the thing with the handle that the coffee goes into) for many hundreds more, both of which make it far easier to make consistent pulls.