I have one of those exactly - I'm an Iceman fan (have several other types too). The sound is what you would expect from an Ibanez: Nothing inherently wrong with it, but nothing that cries out
"Oh, that is an Iceman sound!" either. Let's face it, these basses (and guitars) are bought for their iconic looks (or because you like Paul Stanley's chest hair),
nothing wrong with that (or both!).
The pups were viewed in hindsight as a little narrow on these, but you can set them up to bring out E and G string as well though the G string won't jump at your throat. A later version had wider pups, but the result was less than pleasing to the eye and the magnetics interfered with the strings if you came too close.
Just don't expect an especially characteristic sound like a Ric, T-Bird or the two types that other Californian brand insists on making. But no one will tell you
"That bass looks better than it sounds!" either. The sound is not hugely assertive, but melts in nicely. Pete Way of UFO did not shy away from playing these, so why the heck should you?
Plus: If you were born largely chest-hairless like me, it is as close as you can get to being
The Starchild, sigh!