This is a lovely way to inspire a young author. It's a nice quality notebook coupled with a number of beautifully illustrated stickers representing familiar characters and objects from fairy tales. The child chooses a few stickers to place at the top of the page (perhaps a magic ring, a wicked witch, a sly cat, and a prince), then proceeds to write the story to fit the pieces he or she has chosen.
Yes, the list price seems a little steep, though the notebook is of high quality and the stickers are exceptionally lovely and the selection seems very well-conceived. I also wish the lines on the paper weren't so enormous. It seems to me that the children who actually write at this level are beyond gigantic primary lines -- and younger children would be more likely to have a parent write for them anyway. But it's a small quibble.
My daughter loved using this notebook and others in the series.