Yes. IGNOU is definitely not just a degree-making university. The quality of study materials is pretty good and it’s not easy to pass the exams. This makes it not the best but a pretty good university. Also, don’t forget the fact that it's the world's largest open university.
IGNOU is a well-reputed and recognized university. The degrees are also favourably accepted for employment posing no problem due to distance learning.
Another benefit one can avail from IGNOU is its affordable fee structure. You can spend only INR 50,000-60,000 on your graduation and still get placed at a major MNC. Ultimately it’s up to you to decide if the university is good or bad