Well now don't give up on it yet - you don't know it is rubbish until it is properly tested. There is a non-zero probability that in fact it is not the world's greatest blade but that does not mean it will not take and hold an edge. I have honed some chinese steel that came out reasonably well after some small amount of remedial work - sure, not the greatest but for the price paid, not a total disaster either.

However, if this is your first go at honing I would humbly suggest you do not yet possess the requisite skill set to adequately test this. You would be well-advised to send that blade to a professional honer who will be able to assess it, hone it if possible, or advise you on other options if not.

James.