It's fine. You will get people claim they are nitrate filters without warning you that is on the back of people who used to set up a wet dry or a cannister and then never clean it out for months on end, or that somehow the media will create nitrates from thin air, but I would not listen to long to them.
An ideal set up uses live rock and other natural nutrient exportation (such as algae growth which can easily be harvested) but that is less important if you are not going for a full on reef.