Hmmm... The link goes to the general site,and not to a hatchet. If you're referring to the Mastercraft Hatchet with the fiberglass handle for $19.99, then sure, that'll work for splitting wood. It'll probably work better than a knife, but not better than a larger axe or a maul. It depends how much wood you want to split, how often, and how big the chunks of wood are. And how much work you want to do. In controlled situations, I've split wood with my Better BK3 (lots!), my 14" Gerber camp axe, my about 12" Marble's pocket axe, and so on. They'll all work. I've used a baton with all of those, too.
There are a gazillion hatchets on the market. If you like that one, then by all means, try it out. Have fun and be careful!