It is
very expensive for what it is. It's also dedicated to drilling. A more versatile tool is advisable if you're going to spend significant amounts on it.
I find that a Dremel (and there are other versions of the same tool from other manufacturers, with the same fittings) is good for wood work below a certain size - small boxes that want small details such as stringing channels or teeny hinge screw holes and so forth, for example. A Dremel is also good for 101 other little jobs involving sanding, polishing and cutting small parts. It might even suit the making or installation of the smaller parts of a flute case.
The Dremel needs a plunge base and fence to make the most of it as a mini router and mini drill. Veritas and Stewmac make the best versions. The Dremel version is made of floppy plastic and despite being inexpensive (about £30) its a waste of money.
https://www.stewmac.com/luthier-too...base?queryid=038023b2556611cf43e0bf3ba8d3cb16
https://www.leevalley.com/en-us/sho...tas-plunge-base-for-rotary-tools?item=05J6507
https://www.axminstertools.com/veri...2163?queryID=2ed76321fc8d9d884a834311f02a2853
Here's a couple of vids showing the Veritas plunge base, in general and used as a precise drill of the sort you seem to want for your flute case. It would be expensive to buy a Dremel, various bits and the Veritas plunge base but you would find it very useful for many future small woodworking tasks.