Looks fine for a short zoom, but that is it. Good weight and price. The caveat in using a ball head is that they "creep" a little after tightening down, particularly if overloaded. That is more of an issue on a tripod and doing very exacting alignment like macro or with long telephotos. That is where you see people using what seem to be oversize ball heads. On the other hand, you will be holding the camera, so you can "assist" a ball head. If I were going to use the Giotto head on a tripod, it would be point and shoot stuff.
Using a camera on a monopod really only needs a one axis tilt for up up/down. 99.9% of the time you will level the pole for the other axis, so a tilt head may be of more use and stronger for longer lenses. Finding a truly light one might be a challenge. The Manfrotto 234RC is a good example, but 270g/9.5oz --- probably equal to the weight of your monopod/trekking pole.
With any that use a 1/4"-3/8" adapter bushing, add some Loctite to the threads to keep it in the ball head.
Some of the first tripod heads were simple hinges, which might be an interesting approach for a MYOG tilt head.
FYI, I use one of these, but it is 500g.