I'm a bit underwhelmed by this, but for different reasons than most. Simply looking at an ERA and having an opinion is far too simple. My biggest issue is with him being a 2 pitch guy and not really liking the look of his slider. It doesn't seem to have a nice, tight shape. FB/slider with not a huge gap in the velocity already makes him a RH specialist more or less, add to that his slider doesn't seem like enough of a plus pitch for a 2 pitch guy...i have concerns. All that said, he's clearly not a finished product and can get better.
That leads to part 2. Coming from the Dodgers has good and bad to it. The good is, the Dodgers are the best development team in baseball and we can potentially learn from him what the Dodgers are doing. The bad is, the Dodgers are the best development team in baseball, we can't expect to take a Dodgers pitcher and turn him into something if the Dodgers couldn't.
So, the hope would be that the Dodgers have him doing stuff over the offseason that transforms him into an effective bullpen arm. That's the big upside here. The other potential outcome is, we learn something about how the Dodgers are developing pitchers and offer him back sometime during spring training for a 5 figure loss. If our development team learns anything from the Dodgers, that's almost certainly worth 5 figures.