It is a strong method of construction, really an early form of composite material. A lot of aircraft were made out of plywood at the time also, particularly Russian and German aircraft. Several of theses aircraft were actually more resistant to battle damage than aluminum construction in many ways.
It had its disadvantages, one being durability. Although thousands of the very successful La-5 were made hardly any still exist. Aircraft left exposed to the elements tended to rot away after the war. It was also heavier than stressed skin aluminum construction. Several successful designs were converted to aluminum for weight savings as resources became more available to the winning side.