For younger children, this could be a good background introduction to the world of Shakespeare. We see the world Shakespeare lived in, with some Social and Historical Context.
Would this be useful for studying specific plays?
No. It doesn't have a section on Women, or on Witches or Holinshed, which you'd need if you were studying Romeo and Juliet, Macbeth or any of Shakespeare's Histories. What I'd have loved was a visual guide to the background of the plays.
That said, it's a lavishly illustrated book with interesting general and some good, more play-focused pages (below). The book includes a great photo of Malvolio from Twelfth Night. He's the guy in the stripy tights on the bottom right.