don't be too quick to pass judgement on it until
a) you have the wheel mounted in a fork
b) the tyre and tube are fitted (this doubles the inertia of the wheel, so it spins smoother/ longer) and
c) the hub is at least correctly adjusted, and preferably correctly lubricated too.
You can do each of these things in turn if you like, and see what difference each one makes individually.
cheers