Yes, that's pretty good in reality. There are buckets of BS on forums and Pootube where armchair machinists claim to "hold tenths" or better on their machines.

My Shizuoka was a very good quality machine when it was made, with top end HSK ballscrews and bearings and cost more than an average house yet they "only" claimed accuracy of 0.01mm. Clearly with the passage of time and without a professional to set it up, I won't get close to that. In practice I'd probably be happy with 0.05mm and TBH, I don't expect there are many things I'd make that would require much better precision.

Part of the skill of designing stuff is taking into account the facilities at your disposal. I'm not expecting to be a pub legend any lunchtime soon!