Depends on what your purpose is. Is it the best wood, or even great/good wood? It's debatable but probably not. You probably won't make a world record maker or have it classified as an elite status bow. Can it be a bow? Yes, you could even make a bow out of pine or willow if you wanted to (which I consider some of the worst wood). It wouldn't be "good" compared to woods of better quality, but it can be "good" if you just want something to target shoot with. It may even be "good" enough to hunt and kill with, depending on the type of game you're after. Discrediting it all together as not worth any effort, even if your life depended on it, is in a way a little dramatic. If you were starving and you wanted a bow to hunt a turkey, even a pine/willow bow would be good enough.
If you pride yourself in only the "best" bows, then wasting your time un sub-optimal wood isn't worth it. Some don't want to be associated with something made of "poor" quality wood. Personally, I don't really care what material I use, but at the same time, I have to adjust my expectations. Speaking from personal experiance, I have tried to get more from materials than what they can physically give me, and as a result I have broken more bows than I should have. I have wasted a lot of time where I would have been better off using "better" material I was saving for later. What it comes down to is if you are okay using mediocre wood, you have to be okay getting mediocre bows.
