The PB Multitool is a bench grinder attachment, so the power is really down to the bench grinder it's mounted on.
On a 3/4 HP (550W) bench grinder, it can be a fairly useful machine. On a 900W (1 1/5th HP) grinder, it can actually shift a pretty significant amount of metal.
A number of us got the 2 x 36 Multitool attachments in a group buy on British Blades 2 or 3 years back. At around a hundred bucks equivalent, they were good value in a market that does not cater well to knifemakers.
There have been a number of "improved" machines built around the Multitools bought in that group buy, with some being adapted to standard motors with a simple adaptor plate. On a variable-speed motor of 1 or 1 1/2 HP (European motor sizing; these are as big as you can go and still have a standard shaft (19mm) that fits the 3/4" bore drive wheel of the multitool) they make an excellent compact grinder.
With a contact wheel mounted directly onto the motor shaft, the Multitool and an adaptor plate can be used to provide a very easy and effective tensioning/tracking system for a surface grinder belt conversion.
If you are comfortable making your own equipment, the Multitool is something that you will be able to repurpose after you have bought/built something better at doing the job you originally bought it for.
Realistically though, if your main concern is having a grinder that will do what you need to do now, it is an expensive way to get a rather low-spec grinder, assuming you have to pay full price.