Better than teflon coating, but it's actually getting better over time. Bad for manufacturers, because they can't sell you another one every year. The only thing that can happen with it is you drop it and it breaks. But then it breaks the tile on the floor. Otherwise, it can last a hundred years or more.
If it wasn't for cast iron I don't think I'd know how to cook at all. We even bake cakes in cast iron.