I have owned this type of peeler before, and believe me: the blade is SHARP! When peeling vegetables, it helps speed the job along with great ease. It's easy to use on carrots, "taters", and the like. Even works on chocolate blocks (though not recommended due to the way chocolate melts quickly).
One of the characteristics of ceramic is the ability to not cause food to oxidize immediately (as steel can do at times), but the best part is the ability to stay sharp without issue. The one I had previous to this lasted over 10 years of use --- that's amazing for a peeler. It's still good, and I still use it ... I just wanted a 2nd one.