It looks like some thought (and hard work) went into it. It is a top-notch comic book for 1940. The artwork, by Fred Meagher (pronounced “Mar”) for the Tom Mix stories is excellent. It looks like the issue may have been produced with help from Charles Biro (Daredevil, Boy Comics, Crime Does Not Pay, et al.) Biro signed one of the stories. There are also a couple of racial caricatures of a type sadly common 80 years ago, so be aware.
Tom Mix Comics had nine issues, then three more as Tom Mix Commandos Comics, switching to a wartime theme. The partnership with Tom Mix ended there, although Tom Mix had nothing to do with it, as he was deceased. He died in 1940 on an Arizona road when he crashed his 1937 Cord. The Tom Mix business continued without Tom Mix. Other actors had been portraying Mix on the radio show. The posthumous heroics of Tom Mix continued with a series of stories in a couple of Fawcett’s anthology comics, Master Comics and Western Heroes, as well as his own title for 61 issues, from 1948 until Fawcett ended its comic book line in 1953.