I think it can give you an idea how the game is basically played at that level. But it really is a waste of time unless you are playing for pure fun and enjoyment.
People are generally not playing for real since money is not involved so it is hard to get a grasp on the way people play when money is involved.
Now, even in real money
games some people play like it is play money (cause to them it might be--either playing at lower limits and blowing off steam or just throwing money around)
To learn each level of the game the only real way to be proficient is to learn by experience (of course--books, this site, training sites, tutors--will all help and lessen the amount of time you pick up bad learning experiences)
To be honest--unless you have Zero other choices to play (and you dont since there are a ton of freerolls
all over the internet everyday) you should just skip play money.
The time it takes you to make $5 getting 10million play chips (or w/e it is) you could have made the 5 tens times as fast playing freerolls or micro limits (or going to a staking site as a beginner and picking up $1 stakes w/some work).
Of course, if others think different they can post why they think it isnt a waste.