3.99 Euro is about $5.80 USD, for 64 MB ram with 1 Mbit/s unmetered and 1GB disk isn't anything too extraordinary. Sounds like a plan meant to be a nameserver to me.
The 1Mbit/s, if you were able to saturate that for every second of the month only comes to roughly 320GB. A host with a 100 Mbit commit won't even notice someone using that.