The best grow light will be one that delivers the most PAR (photosynthetically available radiation) for the least watts (electricity used). There are two types of plant chlorophyll which use two different bands of radiation - one in the blue spectrum and one in the red spectrum. So without getting really detailed, a plant grow light will typically look purple to the human eye because the light is blue mixed with red - and very little extraneous light that plants don't use.
However there is more than one way to arrive at the same lighting solution. You can achieve the same results if you use a broad spectrum light. The plant will use the blue and reds, and the other bandwidths (greens and yellows) will fill in the spectrum so that the light looks whiter and not as purple. So you can use a broad spectrum "white" light... it just won't be as efficient as a plant grow light and may, in fact, be lacking in some bandwidth - but some people might find it more pleasing to the eye particularly if you use the lighting for other purposes (to light your basement, for example).
That said, I have not seen any spectrum data on this particular light.