No, you need at least 8 mono inputs, 12 would be better. But for $30 it beats nothing, you could just use it with the stereo outs. It will definitly come in handy.
Depends on how you want to work, with 8 ins, I'd want an 8 buss mixer, cux there is gonna be more gear and routing to busses is easier than repatching your interface. Not necessary, but nice.