Yeah, cooling the pop is a big part of it. But it still dispenses the pop, the bill validator works, gives change, the digital readout works, etc. It's in my basement, which is cooler, so the pop is cooler than room temperature. I'm not sure i'd even leave it plugged in constantly, I probably wouldn't use it much unless i'm having a party. Still not bad for free.....
It does have a thermastat. It says #2 should be all the higher you need to go to cool the pop, I turned it up all the way to #10 just for kicks. The machine got slightly colder, but nothing major.