As in the title - conditions are proportional to price. There are few rooms in a hostel. Each can entertain about 14 people, so it's quite crowded. There're no curtains at the beds. The room was quite clean, but it depends on people, who you share the room with. There are european and UK-type sockets avaible in each bed plus small lamp (but mine didn't work).
There is a free breakfast in the hostel and it's adequate. There's also a fridge and microwave owen avaible. The localization of the hostel is very good, it's close to the underground station and in c.a. 4 minutes you are near the Thames (on foot). Wi-Fi is availble, but very slow.

I find it great, did it twice and was wonderfull, how come some people find it bad I really cannot understand

This place is a typical hostel setup. They have about 10 rooms each with approximately 14 beds in it. When I went my friend and I were in the same room but our beds were very separate from each other. Cons: check in isn't until 4pm and isn't really flexible. Pros: "breakfast" is free (toast or cereal), free wifi or you can use their computers and pay about 2 euro/hour, you can leave your luggage there if you arrive before check in. Don't forget to bring your own towel and flip flops for the shower! Overall, I would stay there again if looking for a hostel situation, but I don't think I will again. Also, when I booked it seemed to add a LOT of "taxes and fees" at the end so it's not as great a deal as you originally think, may be able to find a hotel and have that added privacy and security for only a little bit more. Location is easy, just off the Lambeth stop before Elephant & Castle.

No personal space. No where to put your stuff, have to fight for a power outlet, have to wait for lockers, showers are aggravating to use not to mention not clean. Near the War museum though and near the lamberth north tube station as well as Waterloo rail. Don't plane on sleeping your first few nights. Oh and if your from the states just know that people like to ware there birthday suit around the rooms and bathrooms.