Sorry RD but I can't tell off your picture what shape the blade is, or how heavy the axe is but if its sharp and it suits you then go for it.
There are a few things a good axe needs, the steel needs to be easy to sharpen but still hold a good edge, and the blade needs to be profiled to suit you and at a weight you are comfortable using. I've got two hatchets, a cheapy off the local market I use for splitting and wedging out staves, and a 'vintage' hatchet that cost me £8 including postage off that auction site which I spent half an hour re-shaping into a carving profile. I like using light/medium weight axes but a lot of carvers go for a big, heavy head on a cut-down handle.
If it suits you and does the job you need then its all good but with second-hand axes being cheap then you can build up a set of different blade-shapes and weights quite economically.
One thing, I guess you haven't used a hatchet for roughing out before? Use short cutting strokes and be careful to lean the stave over a little so the blade catches in the wood and doesn't bounce off it instead. Ideally put the stave on a wooden pad or stump so that when you can carve off the end of the stave the axe will land in nice soft wood and not a hard concrete floor.