Yes, this is a standard 18-55mm slow-apertured kit lens and will never win any awards for fine optical performance. It's soft wide open at 55mm (stop it down to f/8) but apart from that it performs well for what it is. I swapped my old mark II 18-55 for this one and don't regret it. The only differences are that this version is better built and weather resistant.
No other brand offers a kit lens with weather resistance, which is one of the top reasons to go with Pentax. In fact, most don't even come with a metal mount, a hood or built-in over-ride of the AF, all of which are available here.
I have a Tamron 17-50mm f/2.8 lens (which is great) and several DA Limited primes, but for nasty conditions this is the lens I use. I've used this lens in the humidity and rain of Cambodia and Vietnam, the snow of mountainous Cantabria, the sandy beaches of Lanzarote and the rain of Scotland, and it never lets me down.