It's hard to describe this as an authentic absinthe, since it is artificially colored and sugar has been added to it (presumably to offset the 'off flavors' that essences tend to add to spirits), but it's not completely terrible. I'd never turn to this if I wanted a properly prepared absinthe, but I guess I could see using this as a cocktail absinthe. Even then, it wouldn't contribute anything positive to whatever it's added to.
