You probably would do better locally with this horse showing APHA than AQHA, but it depends on the local circuit. The horses winning HUS now move like a top hunter but the always perfectly low headset.
I had an AQHA/PHBA gelding who was sold on as a youngster because he didn't naturally want to go slowly enough to do the 2/3 year old futurities without damaging his legs. As an adult we used circles to teach him to want to rock back onto his haunches and balance slowly, but I wouldn't have wanted to circle a baby so much. This looks like a youngster you could have fun with who could be an all-arounder, but I would definitely not be aiming for the futurities and large amount of riding you'd have to be putting in for such a short timeframe. You don't sound like that's what you're aiming for, though, which is good!
ETA: To me the baby looks like a good sort who would be fun to work with. I would "ruin" it for breed showing by teaching about lifting in the withers and building muscle on the top of the neck, use any flat classes as warmup to jumping (though eq could go very well with this horse!) and ride more like a hunter or dressage horse than a QH hunter. There's a lot to say for the brains of horses with similar breeding and their acceptance of anything you want them to do, and to me that likely brain alone makes the horse very worth looking at.