It will help you out with chord progression the backbone of a song.
It looks neat and easy to use. The one thing that it does not have is midi export or wav export making it less useful. There is though two other apps that cost a little bit more and being a little bit more complicated that does have midi and wav export, plus a whole lot more functionality and both of them has been around for a long time. So Check it out
(with Steve Brule) if these type of apps are something that you would be interested in.
The two other apps are Chordbot Pro and EasyBand Studio.
With one big difference they will not show you a suggested progression but you can try out chord progressions to your hearts delight until it sounds good to your ears instead of following a suggested formula.
Anyway all three apps have limited free versions so that would take away the anxiety to chose which one would be the right one for you in your song making quest.